New tax rules create questions around year-end giving for Sacramento charities ...Middle East

News by : (CBS sacramento) -

Local organizations like Saint John's Program For Real Change depend on donations to fund their workforce training programs and housing for women and children.

Getting contributions before January 1 allows them to qualify for matching contributions. It also comes at a time when some nonprofits are bracing for government funding cuts.

But as the year comes to a close, there are new charitable donation rules to consider as a result of the federal spending bill signed last July 4.

"If you itemize your deduction, it may be beneficial for you to donate by year's end, and if you take a standard deduction, it may be beneficial for you to donate next year," said Kelly Siefkin, with the Sacramento Region Community Foundation.

But you have to wait until January 1 to get the tax write-off.

So whether it's before the clock strikes twelve on New Year's Eve, or sometime next year, local charities say any generous donations will be appreciated.

"If you're considering yourself a member of this community and you want to see great things come, consider giving," Siefkin said.

Charities say there are also tax-advantaged ways to donate through retirement accounts and by "bunching" contributions before the end of the year.

Hence then, the article about new tax rules create questions around year end giving for sacramento charities was published today ( ) and is available on CBS sacramento ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( New tax rules create questions around year-end giving for Sacramento charities )

Last updated :

Also on site :

Most Viewed News
جديد الاخبار