Year-end Gifting Rules Revisited
from Accounting Today
From Dec. 3:
The Internal Revenue Service is reminding individuals and businesses making year-end donations that several important tax law provisions have taken effect in recent years regarding gifting. Household items include furniture, furnishings, electronics, appliances and linens. Clothing and household items donated to charity generally must be in good used condition, or better, to be tax-deductible.
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