Jan-Mar 2015 Charity

Vladimir Kortensky Advanced Member When other little boys wanted to be ballet dancers I kind of wanted to be a vampire. Posts: 6,840 Pronouns: He/Him Reputation: 287	Jan-Mar 2015 Charity Jan 24, 2015 22:08:10 GMT -5 via mobile Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by Vladimir Kortensky on Jan 24, 2015 22:08:10 GMT -5 $25 is in!

Night Exclusive Member Posts: 4,908 Reputation: 265	Jan-Mar 2015 Charity Jan 25, 2015 11:33:21 GMT -5 via mobile Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by Night on Jan 25, 2015 11:33:21 GMT -5 Jan 24, 2015 22:08:10 GMT -5 Vladimir Kortensky said: $25 is in! Bravo!

xea989 Staff Member Posts: 16,740 Reputation: 1,909	Jan-Mar 2015 Charity Jan 26, 2015 8:56:59 GMT -5 Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by xea989 on Jan 26, 2015 8:56:59 GMT -5 $70 total so far.

Tim05 Staff Member Posts: 7,048 Reputation: 1,540	Jan-Mar 2015 Charity Jan 26, 2015 9:38:48 GMT -5 Select Post Deselect Post Link to Post Back to Top Post by Tim05 on Jan 26, 2015 9:38:48 GMT -5 Jan 24, 2015 22:08:10 GMT -5 Vladimir Kortensky said: $25 is in! Wow, very generous!

Chris Johnson Infinite Member Bergen County, New Jersey Posts: 12,069 Reputation: 536	Jan-Mar 2015 Charity Jan 27, 2015 8:50:21 GMT -5 Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by Chris Johnson on Jan 27, 2015 8:50:21 GMT -5 $5 donated.

abbybaby Imperial Member Posts: 5,666 Reputation: 377	Jan-Mar 2015 Charity Jan 27, 2015 9:37:35 GMT -5 Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by abbybaby on Jan 27, 2015 9:37:35 GMT -5 I am submitting my $5 right now!

SuperShark Exclusive Member Posts: 4,549 Pronouns: He/Him Reputation: 282	Jan-Mar 2015 Charity Feb 8, 2015 11:24:09 GMT -5 via mobile Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by SuperShark on Feb 8, 2015 11:24:09 GMT -5 $15 is in.

Mister Big Imperial Member You're all dating Mr. Big. Posts: 5,292 Reputation: 227	Jan-Mar 2015 Charity Feb 8, 2015 13:24:32 GMT -5 via mobile Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by Mister Big on Feb 8, 2015 13:24:32 GMT -5 $5.
	We did a lot of things that were bad for me together.

Mister Big Imperial Member You're all dating Mr. Big. Posts: 5,292 Reputation: 227	Jan-Mar 2015 Charity Feb 8, 2015 13:24:55 GMT -5 via mobile Tim05 likes this Select Post Deselect Post Link to Post Back to Top Post by Mister Big on Feb 8, 2015 13:24:55 GMT -5 Confirmation # was 73326PBT
	We did a lot of things that were bad for me together.

Tim05 Staff Member Posts: 7,048 Reputation: 1,540	Jan-Mar 2015 Charity Feb 9, 2015 19:52:10 GMT -5 Select Post Deselect Post Link to Post Back to Top Post by Tim05 on Feb 9, 2015 19:52:10 GMT -5 Don't forget to deduct previous donations on your taxes!!! Every little bit counts

Cybrus Everlasting Member Posts: 8,036 Reputation: 431	Jan-Mar 2015 Charity Feb 9, 2015 21:13:47 GMT -5 via mobile Select Post Deselect Post Link to Post Back to Top Post by Cybrus on Feb 9, 2015 21:13:47 GMT -5 Feb 9, 2015 19:52:10 GMT -5 Tim05 said: Don't forget to deduct previous donations on your taxes!!! Every little bit counts I think you can only deduct when it's more than 5% of your income.

Tim05
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Jan-Mar 2015 Charity Feb 9, 2015 21:14:33 GMT -5

Post by Tim05 on Feb 9, 2015 21:14:33 GMT -5

Feb 9, 2015 21:13:47 GMT -5 Cybrus said:

Feb 9, 2015 19:52:10 GMT -5 Tim05 said:

Don't forget to deduct previous donations on your taxes!!! Every little bit counts

I think you can only deduct when it's more than 5% of your income.

Nah as long as you itemize, you can deduct it.

You Can't Fix Stupid Exclusive Member I'm Wicky's friend. Posts: 4,290 Reputation: 216	Jan-Mar 2015 Charity Feb 9, 2015 21:40:25 GMT -5 via mobile Select Post Deselect Post Link to Post Back to Top Post by You Can't Fix Stupid on Feb 9, 2015 21:40:25 GMT -5 Yup, forms say the deductions need to be over 11k.
	The irony of man's condition is that the deepest need is to be free of the anxiety of death and annihilation; but it is life itself which awakens it, and so we must shrink from being fully alive. - Ernest Becker

Tim05
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Jan-Mar 2015 Charity Feb 9, 2015 23:57:01 GMT -5

Post by Tim05 on Feb 9, 2015 23:57:01 GMT -5

Where are you guys seeing that donations need to be a minimum amount? I deducted $30 to a charity this year and it reduced my taxable income.

Donations to charity are tax deductible expenses. These donations can reduce your taxable income and lower your tax bill. Not everyone will be able to deduct their charitable contributions, however. You will need to itemize your tax deductions in order to claim any charity.

"You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions." (IRS Publication 78)

Rules for Claiming the Charitable Contribution Deduction

Your gift of cash or property must meet certain criteria in order to be tax-deductible.

You must actually donate cash or property. A pledge or promise to donate is not deductible until you actually pay.
You must contribute to a qualified tax-exempt organization. Charities will let you know if they have received their 501(c)(3) tax-exempt status. Some organizations are not required to obtain 501(c)(3) status from the IRS. These include churches and other religious organizations.
You must be able to itemize. Giving to charity is a great tax planning strategy, but it only works for people who are eligible to itemize their deductions.
You must meet record keeping requirements. This includes saving canceled checks, acknowledgment letters from the charity, and appraisals for donated property.

TL;DR - As long as you can prove you donated money, and you are itemizing your taxes, your charitable donations reduce your taxable income

Andrew Revered Member Manhattan Crew Posts: 15,750 Reputation: 554	Jan-Mar 2015 Charity Feb 10, 2015 6:30:46 GMT -5 Select Post Deselect Post Link to Post Back to Top Post by Andrew on Feb 10, 2015 6:30:46 GMT -5 The standard deduction is like 10,500 or so. Your itemized ones need to go over that, or there's no point in itemizing.

Post by Vladimir Kortensky on Jan 24, 2015 22:08:10 GMT -5

Post by Night on Jan 25, 2015 11:33:21 GMT -5

Post by xea989 on Jan 26, 2015 8:56:59 GMT -5

Post by Tim05 on Jan 26, 2015 9:38:48 GMT -5

Post by Chris Johnson on Jan 27, 2015 8:50:21 GMT -5

Post by abbybaby on Jan 27, 2015 9:37:35 GMT -5

Post by SuperShark on Feb 8, 2015 11:24:09 GMT -5

Post by Mister Big on Feb 8, 2015 13:24:32 GMT -5

Post by Mister Big on Feb 8, 2015 13:24:55 GMT -5

Post by Tim05 on Feb 9, 2015 19:52:10 GMT -5

Post by Cybrus on Feb 9, 2015 21:13:47 GMT -5

Post by Tim05 on Feb 9, 2015 21:14:33 GMT -5

Post by You Can't Fix Stupid on Feb 9, 2015 21:40:25 GMT -5

Post by Tim05 on Feb 9, 2015 23:57:01 GMT -5

Post by Andrew on Feb 10, 2015 6:30:46 GMT -5