Charitable Giving is a cornerstone of a compassionate citizenry. Yet, it's very important that you know what you can, and can't give, and how to best give.
First - legally, if you designate a specific disaster (for example, Haitian relief) the organization is obligated to spend those funds on Haiti only. Guess what? In a few weeks, there will be another disaster, and if the organization recieves an excess amount of funds earmarked for one disaster - so much so that they can't spend it (guess what - this happens a lot!) they can't transfer those funds to other needs, so don't earmark your donation for a specific incident, let the charity manage their funds as they best can.
Second - your time is NOT a tax-deductible donation. Even if you have an hourly rate of $100, or a rate for an assignment for a charity documentary project of $750 for each day you are doing that type of documentary work, you cannot donate your services and take a deduction for that. If you incur airfare/hotel/food/shooting expenses during the trip, those you can deduct. (For more information on what is, and is NOT deductible, check out IRS Publication 526 - page 6 is where is says "You cannot deduct as a charitable contribution - 4. The value of your time or services,...")
First - legally, if you designate a specific disaster (for example, Haitian relief) the organization is obligated to spend those funds on Haiti only. Guess what? In a few weeks, there will be another disaster, and if the organization recieves an excess amount of funds earmarked for one disaster - so much so that they can't spend it (guess what - this happens a lot!) they can't transfer those funds to other needs, so don't earmark your donation for a specific incident, let the charity manage their funds as they best can.
Second - your time is NOT a tax-deductible donation. Even if you have an hourly rate of $100, or a rate for an assignment for a charity documentary project of $750 for each day you are doing that type of documentary work, you cannot donate your services and take a deduction for that. If you incur airfare/hotel/food/shooting expenses during the trip, those you can deduct. (For more information on what is, and is NOT deductible, check out IRS Publication 526 - page 6 is where is says "You cannot deduct as a charitable contribution - 4. The value of your time or services,...")
(Continued after the Jump)
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