9. Claiming Too Many Donations
Making donations is a really nice and altruistic gesture, helping people and causes in need will give you a great feeling of achievement at the end of the day. And you know what else? A tax deduction.
However, don’t claim too many donations because it will get you in serious trouble. After you make a donation you will get proper documents to attest that. If you don’t have it to prove your donation to the IRS, don’t ask for one.
These cannot be coming from any personal asset, it has to be business related and only that.
