By Claire Ding, CPA, Tax Senior
ASL High Net Worth Group
Charitable contribution deductions are one of many deductions that taxpayers frequently claim, and for many, it is a heartfelt way to make a positive impact. The most frequent contributions come in the form of cash, household items, and clothing—items often earmarked for donation during moves or home cleanups. Often, taxpayers don’t realize that proper documentation is necessary. In this article, we will cover the essential substantiation requirements for documenting these donations. (more…)