It’s always better to give than receive. The glory of charitable donations is that you give and receive at the same time. While we believe that your motivation to donate to charity should primarily be altruism, we also think you should know that many tax benefits exist for those who give. Here is a direct benefit you should know about, while you are considering how much to give to our cause…
A charitable gift may entitle you to a deduction against your income tax if you itemize deductions. If the gifts are deductible, the actual cost of the donation is reduced by your tax savings. For example, if you are in the 33% tax bracket, the actual cost of a $100 donation is only $67 ($100 less the $33 tax savings). Read the rest of this entry »
