Reminder: there are only 25 days left to file your 2013 tax return without an extension.
Yesterday, I wrote about contributions to which not for profit entities are deductible. Today, I'll look at the first of two kinds of contributions: cash.
Cash contributions are quite simply that - a donation of money made in cash or by check or credit card. There are no issues as to the value of the donation. However, if you get something in return for your contribution, that can and often does reduce the deductible amount of your donation. This often occurs when you buy something at a silent auction, or make a donation to an athletic department in order to purchase season tickets.
Shameless promotion: my wife (pictured above) is riding in the BP MS150 from Houston to Austin on April 12-13. If you need a cause to donate to, she would really appreciate your donation to help her reach her goal of raising $3,700. Click HERE to donate.
If you need help with your taxes this year, call me at 832-387-4829 or email me by clicking the little envelope in the top right corner of the page.