Whenever you are making a charitable donation you’ll want to get a receipt so that come tax time you can decide if you should take the standard deduction or if you should itemize.
What is the standard deduction?
Like we said before, the standard deduction is based on your tax filing.
For 2016 taxes these are standard deduction rates.
- Single taxpayers – $6,300
- Married taxpayers filing a joint return – $12,600
- Head of household taxpayers – $9,300
How to calculate an itemized deduction.
