Donation Tax Deduction Rules
May 24th, 2010
Question: Is there specific rules for collecting donations (cash & misc Items) for abused wom. & teens?
I have been collecting donations to help not just abused women but women who are just having a hard time starting over and if they have teen age children. I have gotten large amounts of cash plus many stores have donated new clothing, school supplies, furniture, and a lot of stuff people use daily. I am just not sure if I have a legal responsibility for $ amount of donations, or do I just take these things into different shelters and let them handle any filings for these companies to rec a tax deduction. Can someone help me find out? Maybe I should get a office bldg. to store all the things I have and maybe make it so that the receipient has to be reffered to be and picks up what they want by appointment only.
I am running out of space in my own home. Thank You.
Answer: Most states have a regulatory agency for a situation such as this. Persons donating items are allowed to use the donation as a tax deduction therefore they must receive a receipt. Your state regulatory agencies can give you the information to register as a non-profit entity.
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