Giving to charity is a good feeling, and most people give freely without expecting anything in return. Even the most generous contributors will agree, however, that a break at tax time turns that good feeling into a great one.

In the United States, all tax deductions should be itemized on your IRS Form 1040, Schedule A. Make sure that you ask for a receipt for every charitable donation that you make, and keep an itemized list. Your contributions to charitable organizations can eventually add up to a sizeable deduction.

Donating to charity is easy to do, but it does carry certain risks. The tax agencies will only grant tax deductions for contributions made to recognized organizations. Check to see if the organization is recognized by the tax agency before you make your donation. Look for the IRS Publication 78 for a full list of recognized charitable organizations. You can find this list at your local library, and it’s also available online. Take the time to research, and be sure that your money is truly going to a worthy cause.

If you’re looking for a tax break for donations made to an individual person, a politician or a political organization, you’re out of luck. No tax benefits are available for these types of gifts. Additionally, you cannot claim a deduction for the time that you spend raising funds through activities such as raffles, casino games or bingo.

You don’t necessarily have to give cash to get a tax break. Deductions may be available for contributions of merchandise, goods or services. The amount of the tax break is based on the market value of the merchandise, goods or services donated. In other words, if your business donates a product valued at $200 to a local charity, you can claim a $200 tax deduction, provided that it is a charitable organization recognized by the tax agency. It’s also possible to receive a tax deduction for your donation of company stocks. The value of the stocks is based on the average high and low values on the date of valuation of the gifted stocks.

That old car in the driveway is another potential moneymaker. Get an appraisal of the vehicle, and you will be able to claim a tax deduction for the car’s market value at the time of your donation. Planes and boats may also be donated to charity for a tax deduction. Keep in mind that if the claimed value of the donated vehicle, boat or airplane exceeds $500, and the charitable organization sells the item, your tax deduction will be limited to the gross sale proceeds.

Household and personal items that are donated may also qualify for a tax deduction. The value of the item is based on the amount that the item would cost at a second-hand shop or garage sale. Be sure to get a proper receipt from the charitable organization that states the value of your donation. This is a requirement for any charitable contribution valued at over $250.

Only contributions made during the tax year will qualify for a deduction. If you have used a credit card or issued a check, it does not matter what date the transaction shows on your account. You can claim the deduction only in the tax year that you made the donation.

Even if you don’t expect to get anything in return for your goodwill, go ahead and keep a list of your charitable donations. The taxman will appreciate and reward your generosity.