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Tracking Your Charitable Contributions
Claremont Management has put together an informative guide (in PDF format) to help you keep track of charitable contributions this year. It covers a range of important considerations when making both cash and non-cash Fair Market Value (FMV) contributions. It also provides you with recordkeeping rules along with sample logs you can use.
We always like to make things easy for our clients, so here are a few simple steps you can take to keep track of charitable contributions:
- Whenever you donate ALWAYS ask for a receipt
- Take a picture or scan the receipt so you have a digital copy of it saved
- Keep a log if you make several donations throughout the year
You'll find even more information and handy tips in our new Charitable Contribution guide that will help you maximize the deductibility of your charitable giving in 2020.
At Claremont Management, all tax return preparers are enrolled agents and average more than twice the continuing education hours required, so we are always current on the tax code and know how to get you every charitable and other deduction you're entitled to. Ready to get started?
Schedule a Free Consultation
We welcome new clients. To learn more about our services or to schedule a free, no obligation consultation, just call John or Maria at (847) 398-7010.