Tax deductions: Making last minute contributions to charities - WECT, weather & sports Wilmington, NC

Tax deductions: Making last minute contributions to charities

Reported by Max Winitz - bio|email
Posted by Debra Worley - email

WILMINGTON, NC (WECT) - Many people are trying to make last minute charitable contributions before 2010 kicks off to be eligible for the tax deductions.

Vicki LaBelle with the Cape Fear Chapter of the American Red Cross said they have seen a decline in contributions this year, but remains hopeful more donations will come in this week.

"It's the season of giving," said LaBelle.  "A lot of people embrace the holidays and they are looking at the end of the year, knowing their contributions are tax deductible."

Accountant Debbe Pearsall agrees, saying a lot of people are trying to donate in time to make it count for their 2009 tax returns.

Pearsall says there are several things to keep in mind if you plan on making contributions this week.

"They need to be postmarked by Dec. 31," said Pearsall.  "If you make a donation, you need to make sure you get a receipt for it, to lock that donation in on your tax returns."

If you plan on making an online contribution, make sure the website is officially tied with the particular charity or organization.

Copyright 2009 WECT. All rights reserved.

Powered by Frankly