When you’re preparing for next year’s tax filings and looking for deductions you can make by the end of the current year, consider donating to the local community. It’s a great way to give to neighbors in need as well as help to reduce the amount of income tax you will have to pay.
Many communities sponsor youth sports leagues. These help to keep kids involved in worthwhile programs that teach teamwork and help them stay active. Sports events bring communities together and enable families to get acquainted. Kids have fun making new friends and learning new skills, too. You can help to facilitate all these benefits by making a donation that is tax-deductible.
Major health organizations related to serious illnesses like cancer, heart disease, and diabetes welcome donations all year long. Some plan special fundraisers or offer matching donations when you give. You can make a one-time donation or register to make automatic monthly contributions. Your gift can be used to sponsor new research that may lead to a cure or better treatments for a specific condition. You may be able to designate how your donation will be used, so call to ask if that is your preference.
Veterans are a special part of every community. Their participation in military service helps to protect our freedoms. When discharged from service, they welcome all the help they can get in finding housing and arranging transportation as they transition to civilian life. Consider making a car donation for veteran charity needs. Donated vehicles can be used by a veteran’s charity to take veterans to medical appointments or job interviews. Their family members can be helped as well. Older cars that are still in good running condition can be very helpful in this type of program.
Many religious faiths sponsor organizations or their programs to care for the needy in their communities. Food distribution, children’s clothing and toys, and holiday gifts are some of the ways in which they provide assistance to families who may be struggling financially. Consider making a donation to a program that lines up with your beliefs and helps others with programs that you approve of. If you are looking for a worthwhile program to donate to, check out the area where you live. There’s a good chance that multiple 501(C)3 programs can benefit from your help.