Making a charitable donation reduces your tax burden for the year while is not making a difference. The tax benefit is a persuasive motive for giving to charity, without the tax benefit it is highly likely that donors will decrease their contributions to charity.
Tax law set rules for receiving a tax deduction for charitable gifts. Thus, it is imperative that the rules are followed in order to make your Donation work for you.
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Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.
Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion. Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.