10 Tips for Donating to Charity
Making a charitable donation not only helps those in need, it also has important tax benefits for you.
This article originally appeared on LearnVest.com.
Giving to our favorite charities is a worthy way to end the year. Not only can buying gifts for a family in need or helping out at a soup kitchen on Thanksgiving day be fun, it can also offer financial benefits.
For most people, it makes sense to give at the end of the year so their money can earn interest throughout the year before they donate it. (More here on when it doesn’t make sense to donate at the end of the year.)
However, it’s only good for our finances if we stay within our giving budgets. Today we’ll break down how to choose which charities or causes to donate to, how to do so without going in the red, and the impact giving will have on your taxes.