11 words needed to deduct charitable gifts

17 Nov


Great article today in the WSJ about What Charities Owe Donors with regards to making sure that charitable donations can be tax deductible.  The IRS says that you need to have an acknowledgement stating the 11 words “No goods or services were received in exchange for the contribution.”

So, if you plan on being generous with charitable gifts over $250 – make sure you get a thank-you note that contains the above 11 words.

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