Every year, at about this time, we all start getting hit with a barrage of requests for donations. Most of these requests attempt to seem more appealing by using the phrase, “Please help with your largest possible TAX-DEDUCTIBLE contribution …”
They start the barrage now for the specific reason that they know people are looking for ways to minimize their tax liability for the year. Most tax deductions have to be made within the calendar year you are filing for to have any hope of making a difference for you.
I’m here to tell you that, in most cases, this is blatant and deliberate fruad. Oh, I’m not saying that the donations would not qualify for deduction from your taxes, but all of these requests are coming from people who know one basic truth. As a former professional in the Income Tax Prep business, I’m going to share that truth with you now.
THOSE DONATIONS ARE ONLY GOING TO HELP YOUR TAXES IF YOU QUALIFY TO ITEMIZE DEDUCTIONS.
If you routinely use the standard deduction, any money you donate to these non-profits is only going to help you by making you feel better about helping that cause.