Tips to help tax payers plan end of year giving

News

SPRINGFIELD, Mass. (WWLP) – The holiday season has officially started and around this time people start giving more to charities.

The IRS is offering tips to help tax payers plan end of year giving.

Before donating to a charity, the IRS suggests making sure it is qualified. An approved charity is the only way you’ll get a tax break for your donation. Financial donations also require documentation. You can get that from your bank records or in a written statement from the charity.

If you plan on giving items such as clothing or furniture the IRS also suggests getting a receipt from the charity you’re donating to so you can claim a “gift” deduction on your taxes.

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