Sunil P.C’s Post

If you’re one of the millions of people giving to charity this holiday season, your gifts may be tax deductible. To be eligible for a deduction of up to 60% of your adjusted gross income, you must itemize deductions. Also, charities that receive your donations must be tax-exempt. You can check the IRS’s site (https://bit.ly/3ViMOcb ) to confirm an organization’s exempt status and compliance with filing requirements. If you need more time to investigate charities before donating, be sure to complete all gifts by Dec. 31. Contact us for more information. #CharitableGiving #HolidayDonations #TaxDeductions #YearEndTaxTips #TaxPlanning #IRSApprovedCharities #GivingSeason #Philanthropy #TaxSavings #TaxTips

If you’re one of the millions of people giving to charity this holiday season, your gifts may be tax deductible. To be eligible for a deduction of up to 60% of your adjusted gross income, you must itemize deductions. Also, charities that receive your donations must be tax-exempt. You can check the IRS’s site (https://bit.ly/3ViMOcb ) to confirm an organization’s exempt status and compliance with filing requirements. If you need more time to investigate charities before donating, be sure to complete all gifts by Dec. 31. Contact us for more information. #CharitableGiving #HolidayDonations #TaxDeductions #YearEndTaxTips #TaxPlanning #IRSApprovedCharities #GivingSeason #Philanthropy #TaxSavings #TaxTips

"When making charitable contributions, be sure to deal with recognized charities and be wary of charities with names that sound similar to reputable charitable organizations. It is common for scam artists to impersonate reputable charities using bogus websites as well as misleading email, phone, social media, and in-person solicitations. Check out the charity on the IRS website, irs.gov, using the Tax Exempt Organization Search tool. And remember, don't send cash; contribute by check or credit card." #givingTuesday #nonprofits #charitablegiving #taxplanning

🌞 Summer is the perfect time to tackle those chore lists! If you're cleaning out the garage or closets, consider donating items to a local charity. Not only is this a generous act, but it could also lead to tax savings if you itemize deductions on your tax return. 🧹🧺 Here’s what you need to know for tax benefits: 📦 Noncash donations under $250: Make sure to get a receipt that includes your name, address, date of donation, and a detailed description of the items. 💖Donations between $250 and $500: Obtain a "contemporaneous written acknowledgement" from the charity. Remember, giving back is always a win-win! #Charity #TaxSavings #SummerCleaning #BusinessAdvisory

🌞 Summer is the perfect time to tackle those chore lists! If you're cleaning out the garage or closets, consider donating items to a local charity. Not only is this a generous act, but it could also lead to tax savings if you itemize deductions on your tax return. 🧹🧺 Here’s what you need to know for tax benefits: 📦 Noncash donations under $250: Make sure to get a receipt that includes your name, address, date of donation, and a detailed description of the items. 💖Donations between $250 and $500: Obtain a "contemporaneous written acknowledgement" from the charity. Remember, giving back is always a win-win! #Charity #TaxSavings #SummerCleaning #BusinessAdvisory

In the The Australian Financial Review, Michelle Bowes shares how charity donations can be one consideration of your tax planning this financial year, with Rachael Rofe, our Head of APS Foundation highlighting how a giving fund can give you time to make thoughtful giving decisions. We can help you set up a giving fund in the APS Foundation within 1 day, and have an experienced Giving Services team to guide you in your giving decisions through the rest of the year. https://lnkd.in/gNbyKG3i #taxplanning #charitablegiving

Did you know you can donate appreciated assets instead of cash to support your favorite charities? Discover more tax-smart giving strategies in our blog. READ: https://lnkd.in/ghDU3j3w #charitablegiving #taxplanning #taxbenefits

Thinking about your legacy? Making a charitable bequest to a donor-advised fund, like Link Charity, could be the perfect way to make a lasting impact. 🌟 Flexibility: Support multiple charities of your choice, even after you’re gone. 🌟 Tax Benefits: Maximize your charitable giving while reducing your estate taxes. 🌟 Legacy: Create a meaningful gift that reflects your values for generations to come. Learn how Link Charity can help you make a difference that lasts. https://lnkd.in/dVnmMgJ #CharitableGiving #LegacyBuilding #LinkCharity #DonorAdvisedFunds #MakeAnImpact

As we approach the end of 2024, have you considered how you might reduce your tax liability? We can help! Making a charitable contribution to The Crayon Initiative not only supports a wonderful cause but could also benefit you when it comes time to file taxes. If your donation is substantial enough, it may push your itemized deductions above your standard deduction, potentially lowering your taxable income. Additionally, if you’ve reached the age for Required Minimum Distributions (RMDs) from your 401(k) or IRAs, you may be able to get a nice tax break by donating part of that distribution. Reach out today to learn how your year-end giving can make a difference for The Crayon Initiative—and for your taxes or donate here: https://lnkd.in/eHuiAbWi #shareyourcolors #arthealing #recyclecrayons #thecrayoninitiative #donate #drawingsmiles #childrenshospital #donation #FirstWatch #ShareYourColors #crayonadvocates #CharitableGiving #TaxSavings