Giving back makes you feel good, in more ways than one. Your charitable giving transforms lives, champions causes important to you and shapes a brighter future for the community you love. In addition, your charitable donations – if properly documented – can lower your tax bill by reducing your taxable income.
As you reflect on the recent tax season and try to plan for next year, it’s important to know the answers to a few common questions about taxes and charitable giving. What qualifies as tax deductible charitable giving? Are all types of charitable gifts tax deductible? Is there a limit on the amount that can be deducted?
- CLICK HERE for a Kiplinger article that answers five frequently asked questions about charitable giving.
- CLICK HERE to learn more about assets other than giving cash that can fuel your local philanthropy through the Community Foundation.
As always, we encourage you to talk to your professional advisor about tax questions. The Community Foundation of Broward is also here to help you and your advisor navigate charitable giving strategies that will enable you to accomplish your charitable goals, and make the most of your tax benefits.
Let’s Talk!
To learn how partnering with the Community Foundation can help you be more strategic and impactful with your giving, contact Vice President of Philanthropic Services Kelly Marmol at kmarmol@cfbroward.org or 954-761-9503.
