• Aug. 27, 2006 - Charitable Donations Get Stricter Tax Rules
What does pension protection have to do with contributions to charity? I would have thought nothing but apparently our congress critters think differently.
The Pension Protection Act of 2006 was passed earlier this month and drastically changed the reqirements for deducting contributions, both money and material things. I hadn't paid attention to the new law since it didn't really effect me, or so I thought.
Now an article in the LA Times by Kathy M. Kristof gives a run down on the changes effecting charitable contributions. Bottom line - If you plan to deduct it, you better have a receipt. |
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