How to Make Charitable Donations

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By chasingthebull
User-Submitted Article

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In these troubled economic times it is extremely important to share any blessings that you can with others. Although making charitable donations can be thought of as a selfless act, it is also important to take advantage of the personal benefits that derive as a result of giving. A careful, well thought out giving plan, can be a blessing to everyone involved.

Difficulty: Easy

Instructions

Things You'll Need:

internet access
a list of your favorite charities

Step 1

Learn as much about your chosen charity as possible - It is extremely important to know where your money, and personal information, is going. Utilizing available resources, such as The Better Business Bureau (us.bbb.org) and Charity Navigator (charitynavigator.org), can make your research a lot more efficient.
Step 2

Stick with one or two charities - It is easy to get caught up in trying to give to many different organizations. This can pose numerous organizational and tax difficulties. Additionally, if you inform your chosen charity on what you intend on giving each year, they will be more able to develop a realistic operating budget.
Step 3

Read IRS Publication 526 (irs.gov) - If reading legal notices or tax information is not easy for you, contact your local CPA and ask them if they have any free literature that may help you make sense of the available tax deductions. Since these deductions change almost every year, it is wise to consult a professional who deals with these issues on a daily basis.
Step 4

Ask friends and family for help - Instead of receiving socks, or a power tie, this year for Christmas, ask your friends and family to make charitable donations in your name. Not only will you reduce the clutter in your house that tends to build up during the holiday season, you may even inspire them to begin giving on their own.