September is here!
Which means a new article is ready for us at the Grand Rapids Business Journal. Our own Steve Struck wrote this month all about the rules and requirements on claiming charitable contributions on your tax returns.
“Back in the “old days” (about 10 years ago) the rules relating to deducting charitable contributions were fairly lax. I throw a few bucks into the Salvation Army’s Red Kettle, the bell rings in acknowledgment and I make a mental note to take a deduction on my tax return next spring. No receipt provided, no written acknowledgment given, no problem!
Alas, that era has ended and recordkeeping has become more stringent. No longer are those dollars deductible without proper substantiation. If done the right way, however, taxpayers can continue to support charities while also getting the benefit of a tax deduction.”
On the edge of your seat wondering what you need to do to claim a charitable contribution? Check out the rest of the story on the Grand Rapids Business Journal.