wallet with credit cards and cash

We published a blog earlier this month that shared why it feels so good to give. If you read that blog, tried a few of the ideas and are now feeling inspired to do more, we’d like to offer a bit more advice, specifically on the topic of monetary giving.

The Tax Benefits Of Giving Money

Many people have donations to charities as a line item in their budget.  You can receive a tax deduction for making charitable donations, up to 50% of your income! 

Just keep in mind that you need a written statement from the charity showing the name of the charity, the date of the donation and the amount of the contribution.

Giving Your Credit Card Rewards

Would you be surprised to know that 31% of credit card rewards go unused?  It’s true!  Think for a moment how much those rewards would mean for a worthy cause!  Many credit cards make this very easy!  Just head to your local redemption page and select which charity will receive your rewards.  Some organizations even have branded credit cards that automatically give your cash back rewards as donations.

Choosing Who Gets Your Donation

Are you wondering which charity should get your gift?  Well, first of all, is there a cause you feel passionate about?  Stay in touch with your passions by making a monthly donation to a cause that is near and dear to your heart. 

If you are worried about the trustworthiness of a particular organization, a site like www.charitynavigator.org can be a great tool.  Their site will give you an opportunity to research not-for-profit organizations before you give to make sure they are a legitimate charity that are fiscally responsible and don’t engage in unethical activities.

Visit our website wallkill.com or our Facebook page for more thoughts on giving!