Making a charitable gift this week could help reduce your 2016 tax burden: read our FAQs on year-end giving
Although Give to the Max Day is one of Minnesota’s most charitable days each year,the last two days of each calendar year are generally the busiest days for online giving nationwide, as donors take a look at the opportunity to make the most of their year-end tax situation.
Should you consider “year-end giving?” Any day is a great day to give, but we’ve put together a short Q&A list to help you decide whether to make a gift by the end of 2016—read the IRS charitable contribution guidelines for official in-depth language.
How could year-end charitable giving help my tax situation?
At the end of the year, tax filers have a clearer picture of their individual tax situations. If you are near the cutoff between tax brackets, charitable gifts may help you lessen your tax burden when you file in early 2017. Additionally, with the amount saved in owed taxes, you can stretch your dollar farther to help your favorite cause!
What type of organizations should I donate to in order to qualify for charitable giving?
All certified 501(c)(3) organizations are eligible to receive tax-exempt donations. In addition, most churches, synagogues, temples, mosques and government agencies are considered de facto eligible to receive donation. LAFS IS A REGISTERED 501 c 3.
How may I make a donation?
At the top of the page click donate and you can donate using a credit card or see supporting LAFS and see more
What is the deadline for charitable gifts to count for my 2016 taxes?
Donations using credit cards must be transacted on or before December 31, regardless of when the credit card bill is paid. If you decide to mail a check, it must be placed in the mail by December 31st.
If you would like to make a charitable gift to count as part of your 2016 tax returns, remember to make the gift by midnight on Saturday, December 31!