Thinking about giving a donation to your favorite charity? Did you realize that in giving that donation, your charity receives it completely tax-free? There are also many benefits to you giving, because there is a tax deduction that comes as a result of your giving to local charities. Now, if you give to a legitimate 501(c)(3) nonprofit organization, you can be assured that there is a special benefit. Not only are you helping that organization, but you are also benefiting in terms of taxes. As far as taxes are concerned, I encourage you to keep an eye on the IRS updates because they are constantly amending and making changes in the law concerning tax-free giving. Currently, there is a standard deduction given to taxpayers for their giving to charitable organizations, which also includes some other things. However, I would still encourage you to check out the details and not let those things stop or hinder you from your giving. Let's give based simply because of these benefits, but let's remember that these benefits are simply an added incentive for those of us that love to give to our favorite charities. It is an opportunity to see our money being put to good use, supporting those things that we believe in.
Award-winning PDF software
Video instructions and help with filling out and completing Why Form 8854 Charities
