Got Lemons? Make Lemonade!
What are the tax benefits of donating to Collections with Causes?
Through tax legislation, Congress has attempted to encourage charitable giving because it is good social policy. Almost every charity depends on individual contributions to remain financially solvent, especially in this era of fewer direct government dollars. As a result, charitable giving has become interconnected with the tax laws, which have grown more and more complex. The fact remains that your financial benefit may increase dramatically by turning your financial loss into a benefit for all!

Congress has sweetened the pot for taxpayers who make charitable donations. First, you generally receive a deduction in the year you make the gift. Second, you do not have to worry about gift tax because federal gift tax does not apply to charitable gifts. Third, charitable gifts serve to reduce your taxable income, thus reducing your potential tax liability. In this world, we are all faced with financial loss. Although Congress has increased the benefit for charitable donation, they have made little progress in the area of capital loss. The best solution to minimize this loss and reduce your tax liability is charitable giving through a truly unique and innovative “business tool”, charitable giving through Collections with Causes.

What constitutes a gift to charity?
A gift to charity is simply a gratuitous transfer of property or assets to a charitable organization. The key is that your gift must be some kind of property or an instrument of value. There are several different types of property that can be donated to charity, a gift need only be limited by your imagination. What more imaginative way for you and your business to take advantage of the social and financial benefits of giving than turning your financial “lemons” into charitable “lemonade”?

Contact us today for more information about your charitable donation to Collections with Causes.