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“An organization has to have received the 501(c)(3) designation from the IRS for it to qualify as a ‘charitable organization’ in terms of deduction donations for tax purposes,” said ...
The cash proceeds after liquidating the depreciated asset may of course be donated to charity and deducted following the sale, but the tax advantages of making such donation are no better or worse than in any cash donation to charity. In any case, such a course leaves the investor more after-tax assets to donate if so inclined.
As long as a charity is a qualifying 501(c)(3) organization, it can accept tax-free donations of publicly traded stock. Note that not all charities can accept donations of privately held company ...
Once you've reached a point where you are somewhat financially secure, it's nice to give back by donating to charitable causes that are important to you. Plus, you get a nice little tax deduction
Donations made to 501(c)(3) organizations are typically tax-deductible for the donors, meaning individuals and businesses can claim those donations as deductions on their tax returns, subject to certain limitations. This tax benefit encourages charitable giving. In contrast, donations made to 501(c)(4) organizations are not generally tax ...
An individual's donation to a fraternity is only a tax-deductible charitable contribution if the contribution "is to be used exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals." [112]
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