Benefits to End-of-Year Giving
December 29, 2013
Did you know that 22% of all annual charitable giving happens on 30-31 December? The reason for this is tax incentives that must be recorded before the end of the calendar year in order to apply toward the coming tax season. For example:
- Lower your income taxes by deducting charitable gifts (charitable gifts are 100% deductible)
- Up to 50% of adjusted gross income can be deducted
- Gifts of stocks or bonds are also fully deductible
- Avoid federal capital gains tax with gifts of stocks or bonds
We hope if you’re thinking of giving at this year-end that you’ll consider Haiti Partners. With our December matching grant, the timing couldn’t be better to give now and double your impact!