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<!DOCTYPE HTML PUBLIC '-//W3C//DTD HTML 4.01 Transitional//EN' 'http://www.w3.org/TR/html4/loose.dtd'>; <html><head><title>Article Directory Online : Free Online Article Submission - Articleonlinedirectory | How To Make A Smart Charitable Investment During The Holidays</title></head><body><h3>How To Make A Smart Charitable Investment During The Holidays</h3><br /><br />By: <br /><br /><p>Times are tight right now for many households. Even those families who may not be hard pressed are thinking about scaling back during the holidays. But the season of giving still persists and many want to express gratitude for all they have by sharing with those who are less fortunate. In fact, one recent study asserts that during a climate of financial hardship, people actually give more than during times of plenty.<br /> <br /> However, deciding who to make a donation to can be a challenge. There are so many potential worthy causes, and no more so than during the holidays. This is also the time of year many people choose to give as we reach the end of the tax year. Following are some basic tips to consider before investing your money in a social or benevolent cause.<br /> <br /> Instructions<br /> Difficulty: Moderate<br /> <br /> Things You'll Need<br /> Time for Investigation<br /> Computer and Internet<br /> <br /> Steps<br /> Step One<br /> Experts advise it's best to give to groups you already know. While it may be hard to deny the police association request by phone or the local children's charity going door to door, it's safer to give to a charity of which you're already familiar. Seek out groups that represent your passions and concerns, especially those you have already donated to in the past.<br /> <br /> Step Two<br /> Examine how much of your charitable gift will go to helping the actual cause and what percentage will be spent on administrative expenses. The results may surprise you. That's why it's especially important to be careful giving to those who are making direct requests by phone or mail. According to the American Institute of Philanthropy, only a portion of your gift goes to the cause with the rest being spent to cover the cost of the appeal. All charities are required to provide this information up front. It'should also be included on the charity's Web site.<br /> <br /> Step Three<br /> Make sure the donation you're making is to the correct charity. Be wary of charity names that may closely resemble other well-known organizations. To confirm the legitimacy of an organization, check with the Internal Revenue Service which maintains a list of registered charitable organizations. The state attorney general or charities bureau can also provide information about your charity. <br /> <br /> Step Four<br /> Give your donation by check or credit card. Donations made by cash leave no paper trail, making it much harder to track. Never make a check out to an individual requesting the donation. It'should only be made to the charity.<br /> <br /> Step Five<br /> There is a difference between a tax-exempt and tax-deductible charity. Tax exempt means the charity does not have to pay taxes, while tax deductible represents those charities by which the donor may deduct a contribution.<br /> <br /> Step Six<br /> Although it may be the season of giving, identity theft remains a concern. Avoid giving out credit card or personal information in response to a request made by phone, in person, or door-to-door. When making a donation by credit card, execute the transaction at the charity's Web site rather than an e-mail link.<br /> <br /> Tips and Warnings<br /> While some donations are tax deductible, it's important to be aware that some giving is not. For instance:<br /> 1. Volunteer time or services made to a charitable organization are not deductible.<br /> 2. A donation to a needy individual is not tax deductible.<br /> 3. Foreign contributions are not tax deductible. Donations made to U.S. possessions such as Puerto Rico and the Virgin Islands are tax deductible.<br /> 4. Items donated to a thrift store are tax deductible.<br /> 5. Donated property may be deducted at the fair market value at the time of the contribution.<br /> 6. The cost for participating in raffle or other drawing is not tax deductible.</p> <br /><br /><b>Author Resource:-></b> <a href=http://www.AmericanMomentumBank.com>AmericanMomentumBank.com</a> provides a wide array of personal banking and business banking options and banking solutions tailored to your individual needs. For more information, please visit <a href=http://www.AmericanMomentumBank.com>AmericanMomentumBank.com</a>.<br /><br /><b>Article From</b> <a href='http://www.articleonlinedirectory.com/'>Article Directory Online : Free Online Article Submission - Articleonlinedirectory</a><br /></body></html>
