Social media has helped to make our world smaller, and when
natural disasters and tragedies occur, we want to help with
contributions of money and/or other types of aid. At home,
countless charitable organizations are providing all types of help
and, generally, your contributions to U.S. charities are
tax-deductible. Contributions to foreign charities generally are
not tax-deductible; however, special rules apply to charitable
organizations in Canada, Israel and Mexico. First, let's take a
brief look at some of the rules for U.S. charities. A charitable
deduction is allowed only for a gift of money or property made to
or for the use of an organization that meets qualification
requirements. Charitable contributions of $250 or more must be
substantiated by a contemporaneous written acknowledgment from the
charitable organization to be deductible.
