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Q: What percent of their expenses do the Reeds spend on gifts and donations?
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This is the Reed family budget. What percent of the expenses are spent on gifts and donations?

I am unable to se the budget, therefore I cannot tell the percent of the expenses that are spent on gifts and donations.


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Tax deductible donations are those given to non-profit organizations, such as charities, churches, Salvation Army, etc. Donations of property are also tax deductable, as are monetary "gifts". It is important that you have legitimate receipts for your charitable donations to make sure they qualify as deductions on your tax return.


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What appropriate explanation would be provided for entering gifts or items consumed in the home under receipts and sales column rather than under expenses in the financial transactions records?

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