Personal Charitable Contributions
During the “Season of Giving”, let us not forget about giving to charity. Whatever the reason, the practice of giving taps into something deep in the nature of the person. Giving our time and money to others tends to have significant implications for our individual well-being and that of our local communities and nation. Charitable giving is associated with higher levels of health and happiness, increased prosperity and strong community organizations. The holidays are traditionally the time when people decide to give back to their school, church or favorite charity. It’s also a time for donors to think about how to get the best tax deduction for their gift. The IRS offers guidance on personal charitable contributions on Topic 506 – Charitable Contributions and IRS Tax Tip “Eight Tips for Deducting Charitable Contributions” See Full Article.