Properly substantiating donations will protect your charitable deduction

Description

Abstract: Whether you’re totaling up last year’s donations in preparation for filing your 2014 tax return or you’re starting to plan your charitable giving for 2015, it’s important to understand the IRS’s substantiation rules. If you don’t, you could lose the tax benefit of these gifts. This “refresher course” discusses how to substantiate both cash and noncash donations of varying sizes per IRS requirements.