Giving Compass' Take:

• Kelly Phillips Erb shares advice for philanthropists who want to make their charitable donations tax-deductible. 

• Are these methods in line with your giving values and practices? How important is the tax deduction to you? 

• Learn why you may want to consider forgoing the charitable tax deduction


A tax deduction for charitable giving isn't guaranteed just because you're feeling generous. As with everything in tax law, it's important to follow the rules. Here are 13 tips for making your charitable donation count.

  1. Itemize. To claim a charitable deduction on your tax return, you must itemize your deductions.
  2. Choose carefully when making a donation. Only donations to qualified charitable organizations are deductible. If you’re not sure whether an organization is qualified, ask to see the organization's determination letter from the Internal Revenue Service.
  3. Remember that donations to individuals will not qualify for a tax deduction. You cannot deduct contributions to specific individuals no matter how deserving.
  4. Get a receipt - even for cash. Cash donations, no matter the amount, must be substantiated by a bank record such as a canceled check or credit card receipt, clearly annotated with the name of the charity or in writing from the organization.
  5. Don't overlook payroll deductions. Your employer may participate in a charitable giving program which allows you to make contributions directly from your paycheck.
  6. Pay attention to the value of any donor incentives.A charitable donation is deductible only to the extent that the donation exceeds the value of any goods or services received in exchange.
  7. Consider donating appreciated assets. Donating property that has appreciated in value, like stock, can result in a double benefit.
  8. Don't forget about retirement assets. Typically, if you want to make a donation from your IRA, you'd have to withdraw those funds, pay the tax and then make the donation.
  9. You can't deduct the value of your time. The IRS does not allow a charitable deduction for volunteering your services even if you can easily put a dollar amount on your time.
  10. You can deduct expenses related to volunteering. While you can't deduct the value of your time (see again #9), there is some good news.
  11. Document the value of your gift. Good records are always important when it comes to charitable giving but even more so for donations of non-cash items.
  12. Limits may apply.
  13. Pay attention to the calendar. Contributions are tax-deductible in the year the contributions are made.

Read the full charitable tax deductions list by Kelly Phillips Erb from Forbes.