2435 North Central Expressway,
In addition to noncash charitable contributions, taxpayers can make certain donations of property as outlined below.
However, taxpayers like teachers who work for the public school system, can treat their expenses as a charitable contribution, thus eliminating the 2% of AGI limitation. IRS instructions specifically allow contributions of cash or goods to the U.S. Government or state agencies including political subdivisions such school districts, police departments, etc.
While the tax or legal information provided is based on our understanding of current laws, and has been gathered from sources believed to be reliable, it cannot be guaranteed. Federal tax laws are complex and subject to change. This information is not intended to be a substitute for specific individualized tax or legal advice and should only be relied upon when coordinated with individual professional advice. Neither FSC Securities Corporation, nor its registered representatives, provide tax or legal advice. As with all matters of a tax or legal nature, you should consult with your own tax or legal counsel for advice.