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Time running out for tax deductible donations in 2007

Time running out for tax deductible donations in 2007



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Paul Nelson, KSL NewsradioIt's your last chance to get a tax break. You only have one week to make tax deductible donations for 2007.

Don't forget, you can write off your utilities.

Butler Tax and Accounting consultant Paul Butler said, "So if you have some due in January, you could pay them in December, and that would give you a little benefit."

Many people will be donating over the next few days, but, Butler says some people may have the wrong ideas about what they can deduct.

"If you donate to any one individual, it's not tax deductible. You have to donate it to a charitable organization," he said.

Butler says they've tightened tax laws about donating cars. Now you can deduct what the charitable organization sells it for, and not fair market value.

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