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The IRS offers some tips for the Season of Giving

Dec 11, 2012 -- 11:56am

 

It is the Season of Giving and the IRS is offering some tax tips for your donations. This time of year can have a major impact on the tax return you file in the New Year.  Generally you can deduct your cash contributions and the fair market value of most property you donate with special exception to clothing, household items, cars and boats.  IRS Spokesman Michael Devine tells KZIM-KSIM making sure you donate to the right charities is very important as well. Devine also adds donations made to family or friends are not deductible.  Keeping records of your charitable giving is very important and all documentation should be kept in a safe location. To learn more tips visit IRS.gov.

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