m2m
Initiate Member
Joined: Dec 19, 2011 0:17:52 GMT -5
Posts: 81
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Post by m2m on Jul 3, 2014 21:04:35 GMT -5
Hello tax experts,
Are all donations (documented, of course) to churches 100% tax-deductible? Is there a limit on how much can be donated? Can the church be outside the USA? Probably not, but as 'they' say, the only stupid question is the one not asked.
Thank you!
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Sam_2.0
Senior Associate
Joined: Dec 19, 2010 15:42:45 GMT -5
Posts: 12,350
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Post by Sam_2.0 on Jul 3, 2014 21:23:20 GMT -5
Good question. We deducted a lot of the supplies we bought for church as well as our monetary donations, and we deduct our gifts to organizations that operate outside the US but they all seem to have a US base.
Sent from my SPH-L710 using proboards
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❤ mollymouser ❤
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Sarcasm is my Superpower
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Joined: Dec 18, 2010 16:09:58 GMT -5
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Post by ❤ mollymouser ❤ on Jul 4, 2014 1:56:38 GMT -5
www.irs.gov/Charities-&-Non-Profits/Charitable-Organizations/Charitable-Contribution-Deductionsou may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions. Generally, you may deduct up to 50 percent of your adjusted gross income, but 20 percent and 30 percent limitations apply in some cases. You may deduct a charitable contribution made to, or for the use of, any of the following organizations that otherwise are qualified under section 170(c) of the Internal Revenue Code: ~ A church, synagogue, or other religious organization; Certain organizations with Canadian addresses listed may be foreign organizations to which contributions are deductible only because of tax treaty. For these organizations, in addition to the limitations on the amount of the deduction allowed by section 170 of the Code, the deduction may not exceed the amount allowed as a deduction under Canadian law computed as though the taxable income (in the case of a corporation) or adjusted gross income (in the case of an individual) from sources in Canada is the aggregate income. A deduction for a contribution to a Canadian organization listed in this publication is unallowable if the contributor reports no taxable income from Canadian sources on the United States income tax return. Except as indicated above, contributions to a foreign organization are not deductible.
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❤ mollymouser ❤
Senior Associate
Sarcasm is my Superpower
Crazy Cat Lady
Joined: Dec 18, 2010 16:09:58 GMT -5
Posts: 12,861
Today's Mood: Gen X ... so I'm sarcastic and annoyed
Location: Central California
Favorite Drink: Diet Mountain Dew
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Post by ❤ mollymouser ❤ on Jul 4, 2014 1:57:31 GMT -5
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TheOtherMe
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Joined: Dec 24, 2010 14:40:52 GMT -5
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Post by TheOtherMe on Jul 4, 2014 21:17:12 GMT -5
Can I deduct donations to charities based outside of the United States?
Generally no, except that you can deduct certain donations to Canadian, Mexican, and Israeli charities if you meet requirements. Donations are deductible to:
Mexican charities if the organization meets certain IRS tests. Certain Canadian charities and are limited by your income from Canadian sources. Certain Israeli charities, but are limited to 25% of your income from Israeli sources.
You can contact the charity for more information on whether it meets certain tests and learn more about the details from the IRS in Publication 526, Charitable Contributions.
The church where I am treasurer is very small so we have members give us the receipts for items they purchase for the church. We write them a check and they endorse it back to the church. That way it shows up in their record of contributions for the year.
Also remember the value of your time is not deductible. That comes up every year at our church.
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