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Proper Disclosure of Tax Deductibility
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GENERALLY, ONLY DONATIONS TO CHARITIES ARE TAX DEDUCTIBLENOT EVEN ALL DONATIONS TO CHARITIES ARE TAX DEDUCTIBLETo be tax deductible, a donation must be to, or for the use of, a charity.Other types of donations are not deductible because they are too intangible or of uncertain value.1.
The transfer must be voluntary and irrevocable.Example:Example:2.
The transfer cannot be contingent on a future uncertain event.Example:3.
The donor must relinquish complete control over the donation.Example:4.
The donor must not expect any substantial benefit in return for the gift.Example:Example:
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