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Capital what you know where the IRS is.
I'm glad to hear at least for the IRS is coming down on this.
Well yes actually what it will good to see you -- -- she's been alongside hates it.
But -- regards to the iris revocation.
Nonprofit status this is actually an automatic revocation a lot of people are really familiar with that.
There's certain non profits if you haven't filed your 99 these or other tax filings required by the IRS for three consecutive years is an automatic revocation that your list that the iris puts out.
I didn't realize is now this is different than any section 501 -- mean B.
Get their exemption status and they have picked up the IRS basically acted both year old procedure.
-- in order take it away.
Correct correct and so this particular case if you if you have a non profit if you if you are non profit.
And you haven't filed your returns in three years and you end -- -- -- revocation lists but thing is it's an automatic -- situation so.
What what some people should do if you're if you are non profit and you -- -- -- on the list the iris has a website -- you can go to.
And you could actually see if you're on that list and the same can go for people who.
Or looking out to donate to their favorite non non profit or charity.
Now disagree and understand just easier nonprofit doesn't necessarily mean your charity.
Lot of -- amusing -- just up just don't wanna make money I -- date they don't have a profit motive.
The money comes back -- the company there's no profits of just good it's a non -- doesn't mean it's terrible organization.
But that being said non profits could be shared a ball and as a result people making donations had -- you know -- legit.
We'll what you do is -- -- -- that when you -- they -- website there's actual search engine that you should do.
The -- always asks you -- tells you he should go and check.
Who chaired the charitable organization status of any.
Non profit -- Jerry did you have an interest in donating to because in order to take a charitable deduction on your tax return.
That -- he has to be on the non profit slash charity list of the IRS.
That's a great -- actually see go to the -- -- you take it out.
And then you know they maintain minerals and their receipts -- -- if I'm not mistaken it's 250 dollars or more you need -- receipt.
Yes that you and his -- is not just -- simple receipt.
The -- -- to have two things it has to have.
The actual value that you donated.
And the second thing is it also has to state whether or not.
You receive benefit in exchange for your donation so here's an example if you if you put if you donate a hundred dollars to listen to have a -- -- we see a lot of DC meeting in New York.
Of which there's a dinner attached to at the -- maybe have a value of thirty dollars.
If that's the case you only get to deduct the seventy dollars and the difference of the thirty from the hundred.
That sheet or that receipt you received from the organization has to have that as well.
Right actually I've actually gotten some of those that they not while the percentage -- -- could you got fed.
But I did have a lot more than just cash these days right I'm on the first person -- -- you know to the vax I mean my kids clean up their closets and stuff.
That's a harder -- to come up with isn't it because it's up CU.
To figure out how much you donated.
That's true and another but other parts of that too is that you can't just donate junk.
A lot of people you can't go watch TV show orders and pull all your garbage and -- -- the goodwill and take a deduction for it.
What you have to do is it's required that you donate -- the -- to -- -- that our household goods or clothing.
Have to be in good condition or better.
And what you do is you talk to the the organization donated the money you donate the goods conservatives are the goods to.
And they will actually tell you what they think it's -- than you also can do the same as well so.
About donate a pair of shoes I guess it worth a thousand dollars but in reality -- -- them you know for ten bucks at a thrift store.
So you have to have some semblance of fair market value.
But there is depreciation and -- the fair market -- -- is depreciation.
Because you know you was -- -- what their issues -- but can you donate them you can't -- 200 dollars that's correct that's correct.
So that's where I think it's really tricky because people -- try to figure out you know and probably antibody.
And really its weekly depend on an accident Finnish news.
That's true yeah they've already warned them to you want to death and part of holds them already but the second thing is you wanna make sure that.
You're not just wanna be is as conservative as possible when it when it comes making charitable contributions.
That are non cash related.
That's a good point.
It but -- just crazy that people still donate or give money to telemarketers.
He has carried out the -- of the oldest stands in the I had.
Stand with you know maybe there's Katrina -- some of the other and Haiti in some of the other -- are people are doing telephones and Jerry Lewis telethon.
But when it comes in reality don't know who these people are.
There's no point in making a donation in giving your credit card over the phone -- a lot of scammer is out there who do that.
What you should do is the someone calls you soliciting donations.
Should ask them for information as well as a way to contact them when they come back -- people come door to door.
On a regular basis asking for money and any Tom Dick or Harry can do that and also and rip you off in the process he want to make sure you get more information about any charity.
But -- that you're interested in donating to.
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