donate money to charity in US

In US, you can often find the inscription ‚ÄúDonate Your money to charity”. The first thought that comes to mind is: Why is philanthropy so massive? In the United States, there is a law that allows you to deduct the amount that spent on charity at the end of the year when filling out a tax return. But this amount cannot be more than $30,000 or $50,000 minus legal deductions. The maximum percentage of a grant or donation will be set depending on the type of organization to which assistance will be directed. The legislative norms encourage people find it easier to throw out the unnecessary things to charity rather than to help others. also, this law allows you to exempt part of the income that was spent on charity during the year. Large companies and entrepreneurs are more likely to donate money to charity than to pay taxes in the same amount, since by donating they receive recognition from people and personal satisfaction, and by paying taxes, they simply fulfill their duties as a taxpayer without any advantages.

The irs.gov indicates which organizations you can donate things to, counting on tax privileges. Among them are non-profit organizations, foundations, churches and other religious communities, volunteer organizations.

donate money to charity in US

donated to charity with a subsequent deduction from taxes Almost everything can be the main thing is that these things are in good or very good condition, that is, a broken TV is not suitable. So, in addition to money, you can donate clothes, furniture, appliances, jewelry, cars and other vehicles, art, real estate and even shares, securities, patents.

The law describes in some detail how to assess the value of things. You can find this information at the link: irs.gov.pdf .

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For example, clothes will cost many times less than they were originally bought. By the way, the maximum allotted clothing that can be deducted from taxes is $ 500. An expert is usually involved to evaluate real estate and other unique goods.

It is worth noting that real charity and volunteering are very popular in the USA, that is, without tax breaks, and all this is mainly due to churches. Most of the inhabitants of the states are very religious, they go to church every week. This, in turn, encourages good deeds and instills empathy and a desire to help in the younger generation.

If other countries follow the example of the United States, charity in the world will become a familiar and large-scale phenomenon.

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