Tips for Deducting Charitable Contributions

Tips for Deducting Charitable Contributions

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It’s the holiday season and time of year when you might be thinking of making additional donations to churches or not-for-profit organizations to reduce the tax due on your return. Here are a few things to keep in mind. Continue reading “Tips for Deducting Charitable Contributions”

Create a profitable Business as a Vehicle to Give Back

Create a profitable Business as a Vehicle to Give Back

1934812-1Many heart-based solo entrepreneurs struggle with money. Somewhere back in their mind, there is a thought that something is wrong with being successful and super profitable. Consider “flipping it.” What if you are just exactly the best person to earn a huge profit? I believe you are the most likely to support your community with your abundance. Have you considered using your wildly profitable business as the vehicle to give back to your community? How does that feel?

My grandmother and grandfather first taught me about giving back to community. Although my grandmother did not work, she was the community-service arm for the family business. She often hosted fundraisers and attended many more. My grandfather introduced me to the concept of the tithe. This is the idea of providing one tenth of income to good works.

Take a moment to envision what you would do to support your community? Even if you feel you are surviving, these actions will move you towards thriving. Once you feel abundant, you can share it with others. Giving to others can make a difference to your community, your state, the world. If you are not sure where to start, consider these areas.

Taking any of these actions can make an impact.
#1 – Gratitude
Appreciate the small things all around you. Gratitude for what you have will inspire you to share with others.
#2 – Time
Investing your time is also a wonderful way to share your gifts and make a difference to others around you.
#3- Money
Taking action in the first two areas often improves the flow of money to you. Begin to give generously to your community, whether it’s local or global as your income grows.

Summary:
Giving to others even in small ways makes a big difference to those around you. All of us impact the world by taking small steps. It will ripple out far beyond your action whether time or money. What step can you take today?

Rules for Charitable Giving

Candy Messer Rules for Charitable GivingIndividuals and businesses making contributions to charity should keep in mind some key tax provisions that have taken effect in recent years.

To deduct any charitable donation of money, regardless of amount, a taxpayer must have a bank record or a written communication from the charity showing the name of the charity and the date and amount of the contribution. Bank records include canceled checks, bank or credit union statements, and credit card statements. Continue reading “Rules for Charitable Giving”