The IRS recently disallowed a charitable donation, because the donor was missing just a few simple words. And it turns out a lot of donors are making the exact same mistake. In this video I'll walk through the mistake a widow made that cost her a $464,000 tax deduction because her tax paperwork lacked a few key words and tell you how to avoid the same mistake. We'll walk through the key things you need to know whether you're contributing $500 or $500,000.00.
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Disclaimer: This video is not investment or financial advice.
00:00 Introduction
01:20 The Missing Words
03:00 Cash Donations Under $250
03:00 Cash Donations Above $250
05:00 Property Donations Below $250
05:55 Property Donations Between $250-$500
06:31 Property Donations Above $500
07:49 Recap Conclusion