Seward Location: 402-643-4557 | Osceola Location: 402-747-3381 ryan@gbecpa.com

The last month of the year is often a good time to plan final charitable contributions. The timing is helpful because you’re able to have a better estimate of income for the year compared to your donations/goals. It’s also helpful because the deduction, should you itemize, will be realized on your tax return just a few months from now.

Donation Facts

If you donate using credit card in December, but payoff the statement in January, you still receive the deduction for December

If you mail a donation in December, but the check isn’t received until January, you still receive the deduction for December

You may not deduct hours of labor
Example: Mowing for 10 hours at the local church is certainly a worthy deed, but is not tax deductible

You may not deduct if a benefit was received
Example: You bought a $100 gift basket at a school charity auction. If the goods inside the basket are valued at $80 then a $20 deduction is allowed. You may only deduct to the extent the amount exceeds the value received.

Documentation for Monetary Donations

For donations under $250 you must have a copy of the cancelled check or a receipt from the charity. For donations of $250 or more you must receive a written receipt from the charity, with name, date, amount, and a statement that no goods or services were provided by the charity in return for the donation.

Donation Ideas

We appreciate and support many non-profit entities. Some of our favorites include:

Concordia University, Nebraska brings a Christ-centered learning environment to higher education.
https://www.cune.edu/giving/

Heartfelt Connections is a non-denominational grief support group for parents who have experienced the death of a child. This group is facilitated by qualified volunteers and professionals. They offer support, confidentiality, and promote healthy grieving and recovery. It is a place for parents to share experience, seek information and offer support to each other.
https://heartfeltseward.org/

Memorial Health Care Systems has a charitable foundation. Contributions made to the foundation help ensure medical services are available by providing the resources needed to obtain and maintain state-of-the-art medical equipment and facilities. The foundation’s vision is to ensure excellent health care services remain available in our community.
https://www.mhcs.us/about-us/foundation

Non-Cash

Located at 504 Seward St in Seward, Nebraska, the Et Cetera Thrift Shop provides a local option for your non-cash and goodwill donation items.