There are new IRS rules for charitable donations, starting in 2007. More info here (http://news.yahoo.com/s/ap/20061215/ap_on_go_ot/irs_donations).
Donations are different then funds spent on uniforms, travel, etc. aren't they?
Yes.
YMMV
IANAL
Caveat Emptor
Save your receipts...
The link failed. Apparently our servers are not on speaking terms.
Quote from: ELThunter on December 16, 2006, 03:54:37 PM
Donations are different then funds spent on uniforms, travel, etc. aren't they?
Our expenses are taken out on the same line on the Schedule A as all the other charitable deductions. Good record keeping is even more important now.
Link works fins, read that last night. Not sure if it effects a standard or just the itemized deduction. Most people (I think it's around 70%) just take the standard deduction & don't bother with the record keeping, so they really have no reason to care if something is deductable or not. The people that do itemize tend to have a specific reason (like how much you spend on CAP for instance) or are pretty well off & spending a lot on charity that they want to be able to stretch over five years I think it is. Anyway, the story really didn't clear that up much. If anything, it sounded like they were trying to make it more difficult ot itemize, which is more efficient (cheaper) for the govt, but hurts charities.