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For many families throughout Maryland, charitable donations are a crucial part of the holiday season. While the main purpose of providing charitable donations in Maryland is to give back to the less fortunate, there are many tax benefits that should be considered as well.

Maryland Charitable Donations are Tax Deductible

Making a donation to a qualified charity is tax deductible. In Maryland, your charitable donation is deductible the year it is provided to the charity. If you make a contribution to your chosen charity by mailing the charity a check or making an online payment, your check will constitute a payment. A charitable contribution made on a credit card is also deductible in the year your credit card was charged, even if the payment was actually made in an upcoming year.

Most Charitable Organizations Qualify for the Contribution Deduction

Although most charities will qualify for a contribution deduction, some charitable contributions may not qualify. Contributions made to foreign governments, foreign charities, and some private foundations are not deductible. To qualify, the Maryland charitable donation should be made out to a specific person in the foreign country or else the contribution will not apply as a deduction. There are also certain situations in which an organization may actually lose its charitable status. It is important to know if your organization still has the appropriate status if you intend to request a charitable deduction for that organization.

Speak with an Experienced Estate Planning Attorney in Montgomery County, Maryland and Prince George’s County, Maryland

Understanding the nuances of Maryland charitable donation can be subtle but may have a significant financial impact. You should consider discussing your charitable donations with a knowledgeable estate planning attorney in Maryland. At the Law Office of LaSheena M. Williams, LLC out goal is to ensure that everything is handled correctly under current Maryland laws and regulations. If you have concerns about your Maryland charitable donations or about any other estate planning needs contact us online or via phone at (301) 778 – 9950 to schedule an estate planning consultation.