Should you ask them for a receipt so you can claim it off your income tax as a charitable donation?
2006-11-20 21:55:57 · 6 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
OK Reesie, say I give the same beggar $2 everyday for a fortnight?
2006-11-20 22:00:33 · update #1
Ladder Captain,
Well I have seen Indian Beggars who accept credit card.
2006-11-20 22:09:42 · update #2
You can't give money directly to a needy individual or family and deduct it as a charitable contribution. Charitable contributions are only deductible if you give to a public charity who supports such needy individuals.
I am always suspect of panhandlers. There is a triving business for panhandlers who make more than the average worker and don't pay taxes on the money. If they were really homeless and hungry they would look well fed and clean.
2006-11-21 01:06:32 · answer #1 · answered by waggy_33 6 · 2⤊ 0⤋
Money or goods donated to an individual or designated for a particular individual is not tax-deductible. It's not the amount donated, but who you give it to, that makes it deductible. If you give to a 501c3 charity that helps the homeless, then it would be.
2006-11-21 10:47:19 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
To deduct donations to charity on Schedule A, the charity has to be a recognized charity by the IRS. A panhandler is not.
2006-11-21 07:15:14 · answer #3 · answered by CA_hiker 2 · 1⤊ 0⤋
If you're that tight dont give him the 2 bucks in the first place!
2006-11-21 06:04:24 · answer #4 · answered by grumpyoldman 4 · 1⤊ 0⤋
no because you have to donate a certain amount and 2 dollars does not meet the criteria. LOL
2006-11-21 05:58:52 · answer #5 · answered by reesie271 4 · 1⤊ 0⤋
unless the "down and out " has an IRS charity tax number - its not deductible
2006-11-21 06:05:56 · answer #6 · answered by Ladder Captain-29 5 · 1⤊ 0⤋