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April 20, 2007, Newsletter Issue #59: Smart Giving: Keep Track
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Tip of the Week
To receive tax benefits when you make a donation, you must keep appropriate documentation. For monetary gifts of less than $250, a cashed check or receipt from the charitable organization is usually sufficient proof of contribution.
When donating property, establishing a trust or an annuity, it's time to call in professional advice—talk to your accountant. Also, many charitable organizations will provide you with support for whatever documentation you need for tax purposes.
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