Charitable Cash Donation Deductions Now Require Proof

Blueprint for Financial Prosperity scrutinized the new IRS rules about charitable donations and found an important change.

Starting January 2007:

“…you can only deduct cash donations if you have proof: canceled check, credit card statement, or a written receipt from the charity itself. For the written receipt, it must have the name of the charity, the date, and the donation amount written on the receipt.

Ergo, ask the Salvation Army guy for a receipt. — BEN POPKEN

My Six Biggest Tax Deductions for 2006: Charitable Donations [Blueprint For Financial Prosperity]