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Show n. Citizen, Press, Review - Wed.. Dec. 21. 1988 - Pao IS . v tiys hw ;tabIicontributtas "; 5 e " Wor on your return now around the 1' Willi the year E,s er you may find it's too late for ifit, tactics, but it's not t$: j " for charitable contributions. '(,' Jf write a check or make a ki'l lllion as late as Dec. 31 and still :icff uct the amount on the 1988 tax ' t Sum - assuming, of course, that h, on your tax return. ( 'wording to Tom Macdonald, "(jjern Chapter President of the ir Association of Certified Public 1 Uintants, the deduction for haritable contributions is limited, i(" Li most people will come nowhere IS; rf (he maximum level. For cash 'if: to public charities, the - Seduction is capped at 50 percent of Aisted gross income. The ft jeduction for donations of long-ter-apital gains property, such as is, is limited to no more than 30 X jercen't of adjusted gross income. Men you donate cash, your 3s writable deduction will usually S equal the amount of your gift. ?; wever. ,f you comi.b and receive a j . yu may deduct only the louTt that s above and of the beyond the value benefit you receive For example if you contribute $50 to a "onprof.t organization and change receive a free subscription to a magazine normally .vou may deduct onlyR charitable contribution Even if you don't have any cash to spare, you may still be able to make CO,ltribution. Consider contributing- infrequently used ems such as old typewriters clothes. In addition, if you Z volunteer work, you may deduct your unreimbursed expenses for sucn items as transportation telephone calls or uniforms If you donate a long-ter- asset (one owned more than six or 12 months, depending on the acquistion date) and the asset has increased in value, you can usually leduct the fair market value of the Property as long as the gift is directly related to the charity's business. If this is not the case, your deduction may be limited to the property's fair market value minus any unrealized capital gains. One note of caution: if you donate an appreciated asset that you have held less than six months, you will probably be able to deduct only your "basis," or the amount you Paid for the property. You should also be aware that donations of appreciated property may make you more vulnerable to the Alter-native Minimum Tax - and possibly a higher tax bill. The IRS requires you to sub-stantiate the value of your donation. you gift is worth less than $500, just keep a receipt showing the name of the charity, the amount or nature of your gift, and the date on which the donation was made. If the value of your non-cas- h gift falls between $500 and $5,000, you must complete Section A or IRS Form 8283. If you were extremely generous this year and donated property valued at more than $5,000, you will have to hire a "qualified appraiser" to verify the value of your non-cas- h gift. (Don't forget that the appraiser's fees may be deducted as a miscellaneous expense, subject to a two percent floor). In addition, you will have to submit a copy of the written ap-praisal along with Form 8283. Make sure that you, the organization that received the gift, and the qualified appraiser fill out the proper sec-tions of the form. If the holiday season is tugging at your heart and purse strings, you may want to consult a CPA for some practical advice on how to successfully turn today's charitable contribution into April's tax write-off. A subscription to your j hometown newspaper is j a Christmas gift that j j comes 54 times a year ! j certificate available Attractive gift j Call VSGGOO I i Hurry! Special prices good only 'til Sat., Dec. 24 3 (. JgT Junior Clothing f s Sweaters Fancy Long sieeve Acid Wash Jeans L S Plain & fancy woven patterns SweatShlltS Several attractive colors 1 Sizes 3. ScarVeS Ladies Famous Brand I I I Atid Wash Jackets Blouses Prints or plains, 30 inch square Cute junior styling Sizes 8 to 18. Reg. to 23.99 P Q" moo 26" j CLOSE-OU- T rtpwm mm mmmm$ Several hundred "7 G rqpi- j- selected videos U J ell days of the week L I O--i 'til 2$300 f J 9 p.m. Q all days of the week of Mon,Sat. liiiMlh j 'ri t" (T T"lT2t-S"s..- . ; .?f! ' "OW AVAILABLE from Fries Home Video &KSL WELCOMES THE MAGICIANS OF BASKETBALL lTV TO UTAH FOR TWO LAUGH-PACKE- D GAMES! MONDAY, JAN. 16 - 7:30 PM ' On sale at he Salt Palace Box Office and all Smith s TIX locations. FOR INFORMATION AND PHONE CHARGES , call aBs-Trrm- i- w TUESDAY, JAN. 17 - 7:30 PIYI - S8. reserv"AS2RpRe!SHt ""boysSls n and under and senior Un "le at the Box Office and Smith s Tix locations. PHONE CHARGES AND GROUP ORDER- S- 378-BY- U 1 or 363-BY- U 1 (from salt Lake cityi: GhJp VisaMastercard accepted: S2 service charge Upj st the Ticket to Stuff a Special Christmas Stocking. Hospital sets classes s for children with asthma The Respiratory Care Departm-ent of American Fork Hospital, in conjunction with the American LungAssociation of Utah will of classes for children with asthma. The format of the program is designed to ins-truct asthmatic children and their parents in living with this disease. We are eager to help children with asthma-a- nd their families-lea- rn to live as comfortably as pos-sble- ," says Dennis Hartle, Respira-tory Care Director at AFH. "With training and education, asthma patients and their families can take greater control of their lives 1 and their health.' 1 The SUPERKIDS program of ' tie American Lung Association nilbecombined with the FAMILY f ASTIIMAPROGRAMofthe Utah Lung Association. These two pro-grams provide teaching and train-ing that help young people to both understand and control their asthma. Classes emphasize the individual's capability to influence their own health by learning breathing and relaxation tech-niques, physical conditioning, and proper use of medications. Classes will be taught at Ameri-can Fork Hospital from January 3 from 7 to 8 p.m. in the board room. The $35 charge for the class helps cover the cost of the SU-PERKIDS packet and other pro-gram material. For more information contact your physician or Dennis Hartle at American Fork Hospital, 763-359- i Charity rents Santa suits For those hearty souls who love to play Santa Claus during this holiday season, the Provo office of the American Cancer Society has a terful reminder - rent your Santa Claus outfit from a worthy charity. "We have several red and white J Santa Claus suits - with fluffy white beards - ready to rent for that special evening or weekend Christmas party," says Janette fck, member of the Utah County Support staff at the Provo office. s The American Cancer Society i2 wently moved its Provo office into headquarters at 327 N. 200 - H Suite, C, Provo. Call 6 (f information about renting a Santa Claus suit for your holiday event. While Santa Claus may bring good things to little girls and boys, adults seem to enjoy his holiday visits as well, says Black. "Christmas is the time of year when we think of all the good things we have and try to share our happiness with others," she says. "The American Cancer Society is particularly aware of the kindness of our many neighbors and friends who volunteer their time and energy to help combat cancer in its various forms. It's a tremendous gift to many people in our area and we're thankful for their help." |
