End of Year Donations May Be Affected by Pension Protection Act

The Pension Protection Act of 2006 has several provisions that could affect your end-of-year charitable donations. For instance, you can make contributions from an IRA account but you must be 70 1/2 years of age.

Used clothing or household items can be given to a charity but those items must be in "good" condition to be eligible for a tax break. Plus your receipts for monetary contributions are more important than ever.

GuideStar.com has an excellent article on the changes caused by the Pension Protection Act. Check it out before you decide how best to deploy your donor dollars.

More about the Pension Protection Act:

• New Pension Protection Act Has Bonus for Charities but Tougher Rules for Some Contributions
• New Legislation Proves to Be a Mixed Bag of Helps and Hindrances