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It’s a good idea to check first with the IRS’ Tax Exempt Organizations Search Tool, but generally, charitable gifts to the following types of tax-exempt organizations are tax-deductible donations:
The IRS allows you to deduct the full face value of any stock you donate to charity. Depending on the size of your donation, this could amount to a substantial deduction . Avoid Capital Gains Taxes
Some organizations must also file a request with the Internal Revenue Service to gain status as a tax-exempt non-profit charitable organization under section 501(c)(3) of the tax code. A non-exhaustive list of organizations that may meet the Federal requirements are as follows: Synagogues, churches and other religious organizations;
But if you aren't careful about making sure the charity you're giving to is legitimate -- or that you set up the donation properly -- you could Don't Get Burned by Your Charitable Deductions Skip ...
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 ...
Charity non-profits face many of the same challenges of corporate governance which face large, publicly traded corporations. Fundamentally, the challenges arise from the " agency problem " - the fact that the management which controls the charity is necessarily different from the people who the charity is designed to benefit.
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