Are Donations To WHY Ranch Tax Deductible?

According to IRS Publication 78, "You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions." If you go about this properly, you can reduce your taxable income thereby lowering what you owe in taxes come tax time. If you're interested in doing this, just follow these guidelines:

• A promise to donate is not tax deductible therefore an actual donation of money or property must have been made
• The charitable donation you donate to must be tax exempt
• You must be able to itemize your tax return
• Record-keeping is a must! You may need to furnish canceled checks, appraisals of the donated goods and / or acknowledgement letters from the charity
• You can claim the tax deduction on Form 1040 Schedule A

As long as you follow these guidelines, you'll be able to claim a tax deductible donation. Since WHY Ranch is a non profit 501 (c)(3) organization, we can supply tax receipts for all donations that include money, horse tack, ranch equipment, feed, land, building supplies, horses, etc.