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Last-Minute Advice on 2013 Charitable Gifts

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Jim Melwert Jim Melwert
Jim is a "morning drive" reporter for KYW Newsradio 1060, bringing...
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By Jim Melwert

PHILADELPHIA (CBS) — If you’re hoping to get a tax deduction on your 2013 income taxes, today is the last day to make that donation.

The first piece of advice from Steven Fromm, a Philadelphia tax and estates attorney, is to make sure the charity is tax-qualified, “because you don’t want to give it to someone who holds themselves out as a 501(c)3 charitable organization and is not in good standing as a charitable organization.”

Fromm says you can check irs.gov for a list of charitable organizations.

Also, he notes,  using a credit card today to make a charitable donation will still count for 2013 even if you don’t actually pay the bill until next month.

But, he warns, if you back-date a check and send it next month, there could be problems if you get audited.

Anything over $250 needs a receipt that says there were “no goods or services received” in exchange for your gift.