Questions tagged [charity]

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2answers
48 views

Donating to a 501c charity from Australia

I make monthly donations to various open source projects via Open Collective which is a 501(c)(6) organisation. I live, work and pay tax in Australia. Are these donations tax deductible in Australia?
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88 views

If I donate something to charity can I claim tax back based the price in £ I originally paid for it?

Or can I only get back what the charity can sell it for? What if they use it rather than sell it ie donating old furniture to a shelter or an old TV assuming I still have the receipt or even bigger ...
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2answers
68 views

Can I donate investment income to charity without getting taxed

I'm wondering if I can donate stock cash dividends or bond interests to charities and make the donations tax deductible? Update: sorry I think I phrased my question poorly. What I really wanted to ...
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1answer
72 views

Easy way to donate a few dollars to charity, manually, every day? [closed]

(I hope this is not off-topic, and apologies if it is) I'm looking for an easy way to donate a few dollars to charity every day (possibly different amounts, depending on the day). Requirements: I ...
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2answers
71 views

Tips on frugal approaches to donating to charities for averagely well-off

The title says it all really, but to get the discussion going let's imagine the following simplified reality: Suppose John is 25 years old, lives in the UK, has a very secure job with a take-home ...
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5answers
481 views

When and how would a company make money by taking $1 out of my paycheck and donating it to charity?

In the US as I understand it, there are corporate tax deductions for charitable giving. For this or any other reason, would a company with large salary expenditures and positive profits (sometimes) ...
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0answers
54 views

Are campaign contributions to NON government positions tax deductible?

If someone is running for an elected position on a private university board, and you donate to them, is that a tax-deductible contribution? Or does the "no tax deductions for campaigns" refer to non ...
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0answers
166 views

What car is appropriate for a fundraiser to drive [closed]

My partner and I are looking at new cars. I am a software developer, she is a fundraiser for a non-profit organization and we share a vehicle to commute work. Recently we started looking for new ...
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6answers
217 views

How best to invest high income if looking to eventually maximize charitable donations?

I live in the US (Maryland) and make over 140,000 a year (is it bad that after I hit 6 figures I stopped paying attention to exact salary and so can't recall more accurately then that?). I'm lucky ...
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2answers
332 views

Donation via text message, does all (or most) of the money go to the charity?

A while ago a signed up via text message to Save the Children £3 per month. I get a message every month saying thank you for donating and £3 is added to my phone bill. But I wonder does the phone ...
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9answers
7k views

In Germany, how can I maximize the impact of my charitable donations?

I have recently reached a point in my life where I want to start making regular donations to worthwhile charities, but I have no idea which charity is most "deserving" of my money. I understand that ...
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0answers
203 views

Donating winning lottery ticket to 501(c)3 Private Foundation: cost-basis deduction + full tax free redemption for foundation?

US 501(c)3 Private Foundations are typically controlled by the primary donator, so that is a nice perk, but in exchange for that perk I realize the tax deductions for donating are significantly ...
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1answer
81 views

Is there a list of financial assistance programs in Ontario, for the poor but not disabled?

As nobody in my family is disabled, we probably don't qualify for Ontario Disability Support Program. But we're indigent, and I'm downcast to find out only about OESP today! I know about the big ones ...
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1answer
108 views

How can I (1) streamline my charitable giving and (2) avoid being pestered by “free gifts” and multiple mailings from the charities I want to support?

I am trying to simplify my life and my financial life, and am making good progress, partly because I am well organized and hate stuff. A few financial areas are defeating me, however. This one may ...
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1answer
75 views

Tax deduction for donating to international charity

If one sponsors a child from an impoverished country through a charity like Save the Children international, can this contribution still be considered tax deductible in Australia?
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2answers
271 views

Is it possible to run a non-profit organization that performs typically for-profit work?

I am based in the US, and I really like the idea of starting a non-profit organization that I can use to do good in charitable areas that I would like to contribute to. Unfortunately, one of my only ...
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3answers
193 views

Credibly Commit to Charity Matching? [closed]

Edit: Thank you all for your answers, I consider this issue resolved! The answer appears to be that there is no easy or universal platform that enforces charity-matching commitments, but that ...
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1answer
114 views

Are dual US-Canadian citizens in Canada required to pay US taxes on their donations to Canadian charities?

Suppose Gordon is a Canadian citizen resident who is also a US citizen. Gordon earns $1,000,000 a year in net income from his Canadian executive job. He pays an overall rate of 40% in taxes. Gordon ...
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0answers
53 views

Lowest Transaction Cost for Charitable Donation [duplicate]

I find most charities have a website that allows you to donate via credit card, paypal, or a physical address you can mail checks (if you dig hard enough). Each have their own transaction costs. ...
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1answer
198 views

Donations: In need of guidance on filling out a 8283 form

I believe I have this 80% figured out although theres still some grey areas thus far based on researching a variety of tax websites and IRS's official page. My situation is as follows. Donating FIVE ...
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2answers
488 views

How much percent will Wikipedia receive from small donations done via paypal?

Currently Wikipedia is doing a capital campaign in Germany asking for money. I wondered if I should donate via direct debit or paypal and wondered how much percent will Wikipedia (or other non profit ...
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1answer
137 views

Is A Company Abusing The Tax Code When It Does This, And How Does The IRS Prevent It? [closed]

When answering, please cite specifics. Which section of the tax code deals with this abuse? What cases have been prosecuted? This SO answer describes an abusive tax scheme involving non-cash assets ...
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2answers
4k views

Why do so many NFL (pro football) players have charities?

Besides fulfilling their desire to do good works in their communities and giving being an essential part of being wealthy for many, are there more tangible benefits for NFL players (and professional ...
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4answers
3k views

Is it possible to give to charities anonymously?

Several years ago, I gave a small donation of $20 to a charity. Every few months, I've received mailings from them with news about the work they are doing and an encouragement to give more. I've never ...
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1answer
114 views

Do crowd-sourced charity funds work without a social network?

Someone I know and respect is going through a serious emergency and needs financial help. He has been very sick for years, and is socially isolated. He only has a couple friends. I am thinking ...
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2answers
170 views

Brokerage account for charity

I wanted to mess around with this app called Robbinhood that lets you trade commission free. I decided to demo it for a year before I put any substantial amounts in it. I put $100 in the account in ...
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1answer
86 views

Supporting Parents by Paying Monthly Payments Tax Benefits

Each month I pay my parents $300 so they can support themselves. My father still works and so is my mother. They filed a joint return themselves. They DO NOT live with me. Can I get any tax benefits ...
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3answers
5k views

How can this be enough to fund a scholarship in perpetuity?

I am trying to understand how funding for scholarhips works. I received this email recently: Some of you, and your colleagues, knew X, a long-time member of our Unit, who died recently. We have ...
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1answer
5k views

Can pretax lottery winnings be donated to charity?

Can pretax lottery winnings be donated to charity in the US simultaneously creating a deduction of the taxable lottery winnings and putting pretax proceeds to a productive cause?
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1answer
89 views

Investing in mutual fund and donating mutual fund assets to charity

I will be making an investment in a mutual fund. I would also like to donate some mutual fund holdings to charity. Since the fund holdings have appreciated in value, I need to make sure that I don't ...
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1answer
158 views

What is the 'opportunity cost' for delaying charitable donations, and when to grant them?

This question is kind of off topic, but this is the best sight I can find for it, so hopefully your humor me. I'm trying to figure out the optimal way to donate my charitable money, this question ...
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1answer
163 views

Optimal balence of 401K and charitable savings

I'm trying to figure out the optimal manner to donate the most money to charity. I currently donate all excess income to charity, minus the money I keep for emergencies. Donating to charity is ...
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0answers
619 views

Can my UK limited company claim tax relief on donations to foreign charities?

I'm English, and run a company that's based in the UK and registered with the UK Companies House. I want to donate some money to charity, but one of the charities I have in mind isn't based in the UK. ...
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0answers
418 views

Donating to US versus Canadian charities to maximizing tax benefits

I am a US citizen and I have the option to make my charitable donations in either the US or Canada for the next few years. How do I maximize my tax benefit for a fixed donation size? My ...
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3answers
563 views

How to donate to charity that will make a difference?

I want to donate to countries which have economic difficulties especially Greece. For a start 50 bucks or so. Because I have a large salary and not many expenses. How can I donate to charity in ...
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1answer
389 views

From a tax perspective, how can a business allow a large portion (80%+) of payments to be given to charity (like Humble Bundle)

To anyone who is unfamiliar with Humble Bundle, they let you purchase games (or other media) and you pay whatever you want. They also let you divide this money up between Humble Bundle, the content ...
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1answer
304 views

How do donation tax receipts work when I have no taxable income?

I currently refurbish computers as a side volunteering thing, and all refurbished computers go to charity. I will receive tax receipts for these donations. The thing is though, I am still <18 and ...
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2answers
314 views

Is it inadvisable to leave a Roth IRA to charity upon death?

Short version: I have (for example) $50K of assets in pre-tax accounts, e.g. a traditional IRA, and $50K of assets in my Roth IRA. When I die, I want to leave $70K to charity and $30K to my siblings (...
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1answer
552 views

Do I need an official receipt to claim a charitable tax credit?

I made a charitable donation in December of last year, and have yet to receive the official tax receipt for tax-return purposes. Contacting the charity, I was told that the receipts had already been ...
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5answers
10k views

Should I give to charity by check or credit card?

I intend to donate some money to a major charity. I could donate online with a credit card, or by mail with a check. I'd like to choose the method that is less expensive for the charity, so that ...
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1answer
2k views

How can I donate money to the Canadian federal government?

Lots of governments accept donations from members of the public. For example, I know the government of Ontario accepts donations through the Ontario Opportunities Fund. I also know that the US federal ...
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1answer
522 views

Is there a benefit to creating a donor advised fund to make charitable donations instead of simply donating to organizations each month?

I'm looking to set up recurring charitable donations to various groups, and I'm considering using a donor-advised fund through Fidelity or Vanguard. General question: Is there a benefit to placing ...
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2answers
157 views

How can I accept donations for a loved one's health care?

My wife's mother (the "patient", for ease of writing this) has early onset Alzheimer's. The family has spent all of the patient's personal cash paying for medical expenses, and is now asking relatives ...
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2answers
1k views

Canceling a credit card with recurring/automatic payments

I am canceling a credit card because I am extremely unhappy with the bank. I have several recurring pledges and donations linked to this card. Do I need to contact each organization individually and ...
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2answers
3k views

What sort of tax treatment does a charitable micro-lending loan incur?

So, a friend of mine has encouraged me to look at Kiva (http://kiva.org) which does microlending and has a big fat legal agreement that says (among other things) 1.3 Tax Deductibility. You ...
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4answers
16k views

How does giving money to charity save you money on your taxes?

I regularly hear about people giving money to charity to decrease their tax burden in the US. I don't understand the math of this. If I'm being taxed at a 40% rate, then I can give $500,000 to charity,...
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1answer
195 views

What types of nonprofit entities can be formed to raise money for someone's benefit?

Our family, along with some friends, have become acquainted with a family in our neighborhood whose young girl has a life-threatening illness. The required treatment is lengthy and expensive, so we ...
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2answers
856 views

How to properly collect money from corporate sponsors?

I'm involved in a hobby, and I want to collect money from corporate sponsors to run an awareness campaign. I'm getting a marketing strategy together, but before getting too far into it, I realized ...
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3answers
8k views

How can I calculate the value of donated clothing for tax purposes?

I have many clothing items that I plan on donating to a local charitable/religious organization. I want to include the value of these items as a charitable deduction on my income tax, but I don't know ...
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8answers
3k views

How does giving to charity work?

The title of this question is hopelessly vague, but here is what I'd like to know: I've always heard that even if you don't have much money, you should give to charity. It is tax-deductible. I'm ...