gifts donated

Figuring Individual and Minister Taxes: Church Donation Tax Laws

Tis the time of year for charitable contributions for individuals, clergymen and churches, but how are charitable donations supposed to be accounted for in regards to taxes?  The IRS actually allows taxpayers to itemize their deductions to write off their donations to charitable organizations; however, the church or organization that is being donated to must meet IRS requirements.

In order to prevent people from taking advantage of this deduction they have created certain rules that govern the timing of donations, maximum allowable deductions and certain documentation is required.  When preparing individual as well as minister taxes, it’s important… Continue reading