Avoid the last minute crunch of trying to organize your personal records for tax time. Maintaining your information, (receipts and payments) will make it much easier to estimate the taxes and prepare the information for the tax professional.
Keep track of Cash Donations – Tithes, offerings, and contributions. The IRS requires proof so be sure and write a check or get a written receipt from the organization you contribute to.
Keep track of Non-Cash Donations – Make a list of the items donated and get a receipt from the organization you donate to. Usually the organization will provide you with a blank receipt if household goods and/or clothing are donated and it is a good idea to attach a list of items and their fair market value when the donation is made so you don’t forget what was donated at tax time. If any one item is valued at $500 or more you need to get an appraisal to be able to claim the donation on your taxes.
Keep track of items purchased entirely for church use. If new items are personally purchased and given directly to the church, be sure and keep the receipt for your records.
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