On Oct 10, 11:23 am, "Paul Thomas, CPA"
<paulthomascp...[at]bellsouth.net> wrote:

- quote -

What if you lose the documents in a fire?

Should you keep records for 3 years (normal time to be audited), 6
years (extended time to be audited if taxable income understated by
25% or more), 4 years (normal time to file an amended return in
California), 10 years (normal statute of limitations), or something
else.

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"Arthur Kamlet" <kamlet[at]panix.com> wrote
- quote -




Yup. But you had better have them when you're audited. To me, that's the
more important thing to be assured of. In other words, the need extends far
beyond the date you prepare and file the return.






--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <rNlHk.60241$XB4.28328[at]bignews9.bellsouth.net> ,
Paul Thomas, CPA <paulthomascpapc[at]bellsouth.net> wrote:
- quote -


Said a bit diferently, contemporaneous here means the due dat of the
tax return plus extensions.
--


ArtKamlet at a o l dot c o m Columbus OH K2PZH

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"Charlie K" <Chas_K[at]excite.com> wrote
- quote -




You might also need it when you're audited. ;-)






--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Oct 8, 2:37*pm, Rich Carreiro <rlc-n...[at]rlcarr.com> wrote:
- quote -

You have to have the receipt in your possession when you file. A
church summary is acceptable and the end of the year.

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"Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> writes:

- quote -

Does the receipt for a cash contribution have to be cotemporaneous with
the contribution, or can it be after the fact? I'm in particular thinking
of church cash donations via numbered envelopes which can be tracked
by the church and statements issued after the end of the year.

--
Rich Carreiro rlc-news[at]rlcarr.com

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"D. Stussy" <spam[at]bde-arc.ampr.org> wrote in message
news:gchko4$d66$1[at]snarked.org...
- quote -

What about people who no longer toss cash and don't carry their checkbook
around? The more the Government makes it to deduct charitable giving, the
less charitable giving there will be.

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In article <gchko4$d66$1[at]snarked.org> ,
D. Stussy <replies[at]newsgroups.kd6lvw.ampr.org> wrote:
- quote -

Why? What about people who still make cash donations, and don't
deduct them?

Seth

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"dpb" <none[at]non.net> wrote in message news:gcgu2s$q19$1[at]aioe.org...
- quote -

Technically, the "increased revenue" to the Government should be zero. To
the extent that it's not, it's an indication of how many people have been
cheating on ther tax returns.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Gary Brown wrote:
....
- quote -

Yes, ...

You would have to write a check or get a receipt under the current rules
irregardless of the amount. I'm sure that's been really beneficial to
organizations such as the SA. Anybody have any information on the
amount of estimated increased revenue to the IRS from this has been?

--

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"Gary Brown" <garyjbrown[at]charter.net> wrote
- quote -




You need to get a written receipt, which can be a canceled check to the
charity. Without proof that the toys were given to the charity, it'd be
questioned, but the deduction not necessarily be denied. For non-cash
contributions valuation is the bigger question, and you have a receipt for
that.




--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

Hi,

With Christmas season upcoming we will be making the usual donations.
It is my understanding that the $20 I slip into the Salvation Army bucket is
no longer deductible because it is cash and there is no receipt. Is that
correct?

We also contribute toys. Some are placed in a collection box without a
receipt but we do have purchase receipts. These are deductible?

Thanks,
Gary

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >