BREAKING NEWS! P50M PERANG SUHOL NI JACK LAM SA BOI IDODONATE SA CBCP!

Recently, Bureau of Immigration Deputy Commissioner Al Argosino and Mike Robles received a bundle of money that they claimed to be came from the businessman Jack Lam. They also confirmed that they are the ones who caught on the CCTV Footage with Wally Sombero last Nov. 27, 2016 who delivered the P50M inside the bags in one hotel in Pasay.

They admitted that it was not a bribe but as a goodwill money to help Jack Lam to get a license in PAGCOR. BOI Commissioner is now planning to donate the money to CBCP who will be accountable from spreading it to different churches nationwide.

Donating to your church, like to any other qualified charity, can be tax free if the requirements are met. The most common donation deduction you can make are for cash donations. You can also deduct expenses for any volunteering or services you provided throughout the year.

If you traveled as a representative for your church at a convention, you’re able to deduct any transportation, lodging, and meals.
Typically, most people will make cash donations to their church. However, if you plan to make a donation deductible, you’ll need a record of the donation. That means using a check, credit or debit card, or electronic funds transfer.

All of these leave behind a paper trail that you can use to substantiate your deduction. Making a one-time cash donation of P15,000 or more means you must get a receipt from the church. Otherwise, you won’t be able to deduct the donation.

If you donate household goods or clothes in good condition, you may be able to deduct the fair market value of those items. Fair market value for most household items and clothes is what you would pay in a consignment or thrift store – not what you paid for the item new.

If you donate an item that’s not in “good” condition but worth over P30,000, get an appraisal for the item before you donate it. And as with cash, make sure you get a receipt for any one-time donation of items worth P15,000 or more.

 

Facebook Comments

About the author: admin

Related Posts