In case you haven’t already heard, you’re in for a bit of good news, the IRS pushed back Tax Day to May 17th for 2021! In celebration (let’s hear it for Silver Linings!), here are 3 great reasons to donate to your favorite charity.
The Tax Deduction, Of Course – it is tax season after all! The Charitable Donation Deduction: For those of you who don’t itemize your deductions: it’s $300 for single filers and $600 for married couples who file jointly.
For those who do itemize their deduction: The temporary suspension of the 60% charitable contribution deduction limitation has been extended into 2021 for qualified cash contributions. Individuals who itemize tax deductions and who contribute cash to a public charity, or a limited number of private foundations, may deduct up to 100% of their adjusted gross income after taking into account other contributions subject to charitable contribution limitations. (According to Stanford’s Office of Planned Giving)
Donating Makes You Feel Good! It’s a mood booster and who doesn’t need that in these times? “We know that people experience greater life satisfaction when they have better health, lower stress levels, and so forth. We now know that giving also adds to life satisfaction, not just for individuals but for their entire families.” According to Debra J. Mesch, Ph.D., director of the Women’s Philanthropy Institute and the Eileen Lamb O’Gara Chair in Women’s Philanthropy at the Indiana University Lilly Family School of Philanthropy.
100% of Donations to The Blue Rose Foundation Directly Fund Supporting Preschool Education! Many people are concerned that their donations to charity may be reduced by tax or administrative costs, preventing the full amount from reaching the people or causes they really want to help. But here at The Blue Rose Foundation, every dollar donated goes to support Preschool education. So you can feel even better about your donation to us, knowing it’s all going to help preschool children get the chance to reach their full potential!
