If I donate some of my profits or items to charity, can I deduct that?
Donations can be deductible, but the rules depend on how you file and what you donate.
The Narrative
The Empathy
You want to give back, but you are unsure how donations show up on your taxes. It feels risky to assume you can deduct everything.
The Education
Cash donations to qualified charities are generally deductible, but item donations are usually limited to the cost of materials rather than retail value. Deductions may depend on whether you itemize on your personal tax return. Keeping donation receipts and documentation is essential.
The Solution
Ask the charity for a donation receipt and document the cost of donated items. Consult a tax professional if you are unsure how the donation fits your filing method. Clear records make the deduction defensible.
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