Frequently asked questions about Network for Good and charitable donations.

When I make a charitable contribution on Network for Good, is that contribution tax deductible?

Absolutely!  Every single charity featured on Network for Good qualifies for 501(c)(3) non-profit status from the IRS -- and that means every donation counts as a tax-deductible donation.  It^s one of the ways Network for Good makes giving easier and smarter for you.  When you make a donation through the Godspeed/Network for Good site, be sure to save and/or print the confirmation email you receive from Network for Good for your tax records.  It will be your only receipt for the online donation.  You should always keep a hard copy of your receipt for your tax records.  A canceled check or credit card receipt is no longer allowed for any donation greater than $250. 

Do I need to itemize my tax return to get a deduction for charitable giving?

Yes, you do. Donations are only tax-deductible if you itemize deductions on your tax return.  When you file your taxes, you^ll need to itemize your donations on the Schedule A of the 1040 form.

Is it worth the time and effort to itemize just to get a deduction for charitable giving?

That varies from person to person and is subject to phase outs at higher income levels.  The following table shows the automatic deductions the IRS provides.   While this is more than most people contribute to charity in a year, there are other items that are included in this amount such as including interest on a home mortgage, medical expenses and business expenses that exceed certain base amounts, state taxes withheld, and real estate taxes paid.  Your charitable donation in the form of cash and volunteer mileage may help to lower your tax bill.  As with any major tax decision, confer with your own tax or financial advisor so you^re sure you get the most out of all your deductions. 

IRS Automatic Charitable Giving Deduction:

Filing Status:                                                 2005          2006

Single & Married filing separately                      $5,000        $5,150

Head of Household                                        $7,300        $7,550

Married Filing Joint & Qualified Widow              $10,000       $10,300

Dependent                                                     $800          $850

Can I deduct expenses I incur from volunteering?

Although you may not deduct the value of your volunteering services, you can deduct some expenses incurred, such as travel expenses if they they are not reimbursed by the charity.  The mileage rate for charitable donations for the 2005 tax year is 15 cents per mile plus tolls and parking.  For more information on this, please check with your charity or the IRS.