Non-Cash Contributions for Tax Time Benefits

Updated: Sep 15, 2017

For taxpayers that are itemizing, you can take advantage of a generous tax deduction from the IRS for non-cash contributions.

If you donate clothing, small household appliances, etc. to a certified 501(c)3 such as Goodwill or the Humane Society Thrift Store in Gulfport, make sure and obtain a receipt indicating the items donated, date, and value. If you donated $1500 (thrift-store value) of items and you're in the 25% tax bracket, it would result in $375 tax savings. Please keep in mind, but do not be deterred, that if you have over $500-worth of a non-cash contribution, form 8283 will need to be filed.

Gerald W. Rigby, CPA, PC

724 Dunbar Ave

Bay St Louis, MS 39520

Tel: 228-467-5744

Gerald W. Rigby, CPA, PC

Diamondhead Branch

5402 W. Aloha Dr

Diamondhead, MS

Tues & Thurs 9am-3pm

Connect online:

  • Facebook Clean
  • Google+ Clean

Copyright © 2014 - 2020 by
Gerald W. Rigby, CPA, PC


websites with love by bloom