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No Paperwork Means No Deduction

March 24, 2015

Did you give contributions to qualified charities during 2014? Be sure to get a receipt. Tax rules are strict when it comes to substantiating your contributions. In order to take a deduction, you must generally have a written contemporaneous receipt from a qualified charity. "Contemporaneous" means you must receive an acknowledgment of your contribution by the earlier of the date on which you actually file your return for the year of the contribution, or the due date (including extensions) of the return.

   

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