2007-02-03 00:37:34 · 5 answers · asked by mrbuild 1 in Business & Finance ➔ Taxes ➔ United States
From what my accountant says, ten percent, of what you make, is pretty standard, in undocumented charitable contributions. I've heard, but don't know for sure, that for every bag of clothing donated, to a good will charity, you may deduct $50,00, but I would check on that before doing it. The best thing is any clothing donation, get a receipt, and include a copy with your taxes.
2007-02-03 00:54:00 · answer #1 · answered by Beau R 7 · 0⤊ 3⤋
Only write off what you actually gave. That way, audited or not, you will not have lied. If you do not try to cheat the government an audit is nothing to be feared.
2007-02-03 08:42:07 · answer #2 · answered by damndirtyape212 5 · 2⤊ 0⤋
500
2007-02-03 08:48:21 · answer #3 · answered by mayhem 2 · 0⤊ 1⤋
What you actually gave. Beau R's accountant is telling him to commit tax fraud, and if he does it, he's setting himself up for big trouble.
2007-02-03 21:30:05 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
Whatever you actually gave......assuming that you have receipts or cancelled checks to back it up.
2007-02-03 09:20:19 · answer #5 · answered by Wayne Z 7 · 2⤊ 0⤋