2013 proved to be a record year for charitable contributions in the United States with $416.5 billion dollars donated to various organizations. With this increase in giving, the IRS has increased its focus on proper acknowledgement of donations; specifically, cancelled checks and credit card statements are no longer acceptable receipts for tax purposes.
Watch as Debbie Alexander and George Hawkins discuss adequate charitable contribution documentation for tax purposes and find out what you need to know before donating non-cash items to your favorite charity.
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