Americans are generous people – in 2010, they gave more than $290 billion to charities despite the weak economy. Knowing the rules will help you to take advantage of deduction at tax time.

The IRS has tightened the rules for charitable giving over the past decade to prevent abuses. It is helpful to understand the rules for deductible gifts if you plan to take advantage of the deduction.

By Rick Rodgers, CFP.

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