Wondering about donating to charity? Want to start philanthropy, but not sure which nonprofit / charities you should give your donation to? Don't know how donation tax deduction works? Here is a lowdown on charitable giving!
The video addresses the topics below:
- What is a charity
- Why should you donate to charities
- How can you donate to charity
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The information presented in the video and the description is for educational purpose only. The presenter(s) / speaker(s) / Easy Peasy Finance are not financial advisors, and do not provide investment advise. Please consult a qualified financial advisor before making any investment decision.
What is a charity? A charity, also known as a charitable
organization, is a philanthropic non-profit organization whose main goal is to help others,
especially the underprivileged. In the US, charities are often referred to as 501(c)(3)
organizations. Charities have different purposes, some of which include giving food,
shelter, and other necessities to those who cannot afford them, providing
education, conserving the environment, and protecting animals. Charities
are supported through don
ations, called charitable donations, given to
them by people who believe in their cause. Why should I donate to charities? It’s very important to give back to others
that are less fortunate and support the causes you believe in. It helps us appreciate what we
have in life and is a great way to express our gratitude. It also provides an excellent
opportunity to teach kids to care about others and make a positive change
in the world. Donating to charity actually makes people happy - so it’s a
win-win! Last but not least, donations to qualified charitable organizations
are eligible for certain tax benefits. How can I donate to charity? If you can afford, you can donate money to
charities. Remember that it doesn’t have to be a huge sum - every little bit helps. Even a few
dollars can make a huge difference in developing countries, and when more people donate, it adds
up! You can also donate securities or other assets directly to charities. This way not only do you
save on capita
l gains tax, but the charity also gets a bigger donation. However, even if you
cannot afford to donate money or other assets, you can still donate in other ways. You can donate
food, clothes, toys, furniture, etc. However, make sure to only donate these things if they
are in good condition and can be used by others. If you cannot donate money or material things,
you can still donate your time. For example, you can volunteer at a soup kitchen or
help out at an animal shelter. Remember, donat
ing time can be just as
powerful as other donations.
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