Yes, you can deduct donations made with a credit card. According to IRS Publication 526, charitable contributions charged to your bank credit card are deductible in the year you make the charge, not the year you pay the bill. As long as you give to a qualified organization and itemize your deductions, that credit card … Read more
Updated for by our team of researchers. Short answer: Yes, a portion of your charity golf tournament fees is tax deductible, but only the amount you paid that exceeds the fair market value of the goods and services you received in return. Most players over-claim because they assume the entire entry fee counts as a … Read more
Charity auction tax deductions allow you to claim a charitable contribution deduction when you participate in a charity auction, but the amount you can deduct depends on a specific IRS formula. The key concept is something called “fair market value,” and understanding how it interacts with what you pay or donate is the foundation of … Read more
A fundraising dinner ticket is tax deductible, but only for the portion of the ticket price that exceeds the fair market value of the meal, drinks, or entertainment you receive. If you pay $250 for a gala ticket where the food is worth $75, your deductible contribution is $175, not $250. Per IRS Topic 506, … Read more
I get this question a lot from donors and nonprofit clients: are charity raffle tickets tax deductible? The short answer is no. The IRS treats raffle ticket purchases as games of chance, not charitable contributions, so you cannot write them off on your federal return. In this guide, I’ll walk you through exactly what the … Read more
Americans gave an estimated $617.2 billion to charity last year. That headline number sounds like a triumph for generosity. But it hides a story that every nonprofit leader, researcher, and policymaker needs to understand. Mega gifts charitable giving statistics are deeply distorted by a small number of ultra-large donations that make the sector look healthier … Read more
When I look at the latest charitable giving data, I see a paradox that confuses almost everyone I work with. Americans gave $592.50 billion in 2024, a 6.3% jump from the year before. Individuals contributed $392.45 billion of that total, which is 66.7% of all giving. Yet the most recent Philanthropy Panel Study data shows … Read more
When the S&P 500 jumps 20% in a year, charitable giving tends to follow. When the index falls 20%, donations often hold surprisingly steady. That asymmetric pattern is the starting point for understanding how stock market performance affects charitable giving, and it shapes smarter strategies for donors who want to give consistently without compromising their … Read more
Yes, you can deduct volunteer expenses on your taxes, but only under specific conditions. The IRS allows you to write off unreimbursed, out-of-pocket costs you pay while serving a qualified 501(c)(3) organization, provided you itemize your deductions on Schedule A. You cannot deduct the value of your time or services, no matter how many hours … Read more
Yes, you can deduct mileage for charity work. The IRS allows volunteers who drive their personal vehicles in service of qualified charitable organizations to claim a charitable mileage deduction at the rate of 14 cents per mile. This deduction applies when you itemize your taxes using Schedule A and have driven for volunteer activities benefiting … Read more