By Angela Hatton
Murray, KY – It's a popular time for giving to loved ones or charity. Murray Certified Public Accountant Tony Page says year-end giving is good for many Kentucky charities that have struggled this year. Page cautions that not every donation will mean a tax deduction in April.
"Charitable contribution has to be made to a qualified organization. You can ask the organization or even more reliable source is you can check the IRS website. There's a publication, its publication 78, that gives you a cumulative list of the organizations that qualify."
According to the Internal Revenue Service, donations to churches and government agencies are eligible for deductions even if they aren't listed in the publication. Donations to entities like political campaigns, and donor-advised funds do not qualify.