The holidays and year-end are approaching. Be prepared! The month of December is when most nonprofits send out annual solicitations and when individuals donate one-third of all charitable contributions for the entire year.
Why do people donate to charity? According to financial author David Bach, “Research shows that people who give of their time and money to help others, live longer, happier and wealthier lives.” In addition to making you feel good, donating to charity can reduce your income tax liability.
How do you decide what charities to donate to? You should give to charities that are important to you. Take the following steps before you make a donation:
There are a number of additional considerations to think about regarding charitable contributions:
Plan and research your charitable contributions. Volunteer and give your time. Donating to charity makes you feel good by helping those in need. Consider giving today.
Beth Carroll is a CPA and a Professional Daily Money Manager. Her company, Cornerstone Money Management, LLC, helps seniors in their homes with billpay, financial organization and cash flow management. You may reach her at firstname.lastname@example.org or 401-323-4895.