[NA]Another Tax question [NA]

[Let'sgoflying!]

My accountant says I cannot take a charitable deduction for cash donations to an-irs certified approved charity, unless we make over a certain amount.
Can this be true?
(he is putting said donations into an 'advertising' account instead)
I will get the deduction that way but it doesn't seem right to put it there (I wouldn't relish defending the entry).

 

[michael Killacky]

Dave, I can't answer your question specifically, just yet anyhow. But I was the lucky recipient of an IRS audit letter this morning for 2005 and 2006. One of the items in question is charitable donations, so I may have an answer for you next week.

I think you're right on the point that I wouldn't want to sell that to some IRS drone as advertising.

These audit letters are pretty much like hitting the lottery in reverse.

Mike

 

[Let'sgoflying!]

I was told that they could only audit up to 2 years previously?

 

[michael Killacky]

They can go back 3 years, unless there's fraud, then it's 7 to the best of my knowledge.