With the end of 2022 drawing closer, there’s still time to make charitable donations ahead of filing for income taxes.

Certified Public Accountant with Henkel and Associates Tom Kennedy advises everyone that when making a charitable donation or contribution to make sure you have the document with the amount of money that was donated.

“We have to see it actually, before we can file a return. There’s some requirements even on the (tax) preparer to have that documentation in hand, and let us see it so we that can deduct on the tax return.” 

Kennedy points out documentation is required for any monetary contributions over $250. However, he notes there’s a different threshold when donating items to places such as Goodwill or Salvation Army.

“If you go over $500, you’ve got to have an itemized list of what you donated and the values. So you have to have that available if you donate over $500 in goods, not cash, non-cash contributions.”     

Kennedy clarifies the $500 threshold for items is the total amount that was given throughout the year that can be deducted on your income taxes.