5 Year-End Tax Tips
Contributing to charitable causes before the end of the year is a tried-and-true tax-reduction strategy — and we’re not just telling you because we happen to be a charitable cause. Below are some tips on how to get the most from your year-end donation. As always, please check with your tax professional for additional tips and information.
1. Double-check eligibility. You’ll only receive a deduction for organizations that are qualified to receive deductible donations. (We are! Click here.)
2. Do your research. To make sure your giving is as efficient, ethical, and effective as possible, check up on charities. (View our 4-Star Charity Navigator rating, the highest rating bestowed on a charity.)
3. Keep records. Get a receipt for all monetary donations, not just for contributions of $250 or more. (We will mail a receipt within 48-hours of receiving your gift.)
4. You can supercharge the tax benefits of your generosity by donating appreciated stock or property rather than cash. Consult your tax professional.
5. Don’t miss the deadline. Your year-end gift needs to be made in 2014, which means the check either needs to be mailed or the credit card needs to be charged before the end of the year. (No time to get a check in the mail? Donate online!)
A strong close to 2014 means a great start for 2015. Give generously to your charities of choice.