Charities
Tips & Advice to help you make your decision on Charities
When a natural disaster creates a crisis somewhere in the world, you might feel compelled to donate money that will help the area recover. In addition to rebuilding cities, the area might need to meet the needs of families that do not have enough supplies to live during the recovery process. If you would like to help, then you should learn more about charities that focus on disaster recovery efforts.
Before sending money to a charity, you should take some time to explore your options. The vast majority of charities do good work that helps people around the world. Others, however, are scams designed to steal money from compassionate people that want to help disaster recovery efforts. You have to choose a charity that has a good reputation for helping people in need.
You can start your research by visiting the links that Business.com has provided. The websites listed on the left side of your screen will provide you with information about charity organizations. Spend some time on these sites to help you decide which ones sound most useful to you. You might also want to do some independent research to help ensure that your donation goes to the people you want to help.
Small Business Charitable Giving
How to save on taxes, increase your business and help othersBy Sheila Callahan, Freelance Journalist Small business owners all over America make a big difference in their communities and beyond through charitable giving. Some just can't say "no" when solicited; others have pet causes they champion; more than a few give to buoy their standing in the community; still others line up for the business and tax benefits. No matter what the reason, extending a hand to help always creates good will. Keep the following in mind, and you'll be way ahead of the game.
- If you're looking for a tax deduction, make sure the beneficiary of your contribution qualifies as a legitimate public charity.
- Cause-related marketing, although not deductible as a charitable contribution, does amount to a tax-deductible marketing expense.
- Always keep accurate records of your contributions.
It's not always about the money
Donation of products and services as well as special events participation can do a world of good.
Try: The Better Business Bureau's (BBB) Wise-Giving Alliance, provides plenty of information on making the most of your willingness to help out worthy causes.
Put your excess inventory to good use
Translate problems like slow-moving or obsolete inventory into ready-made tax deductions through charitable giving.
Try: Business enotes makes excellent suggestions on how to donate goods.
Promote your business through charitable affiliations
You can partner with a charitable organization in a way that brings more customers your way.
Try: Frugal Marketing provides ideas on how to make partnering a win-win proposition.
Check out the organization before writing that check
Make sure the organization soliciting your gift qualifies as a legitimate charity.
Try: The IRS has a search feature to locate legitimate charitable organizations for which there may be a tax deduction. Look for Publication 78. Charity Navigator calls itself "your guide to intelligent giving" and that's exactly what it is.
Finance your charitable goals by transforming your equity
If all of your assets are tied up in your business, and you are thinking of selling, you can transform your equity into a philanthropic fund to finance your charitable goals.
Try: Many nonprofit organizations will assist you in converting your company's closely held stock into a charitable contribution. National Philanthropic Trust is one of many.
- Donated products must be targeted toward helping needy people like children, the elderly or the sick.
- Advertise your products or services in the communication vehicle of the charities you support.
- A tax-exempt organization is not necessarily one that generates a tax deduction for your contribution.
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