We all know the saying, “It’s better to give than receive.” Giving makes us feel good, right? And we usually don’t think about what’s in it for us.
But, what about charitable giving? Depending on the amount of your charitable contributions, you could be in for a sizeable tax benefit. As a matter of fact, if you factor your charitable donations into your budget, it will allow you to be more generous and lead to strategies that could improve your financial planning long term.
With tax season just around the corner, let’s take a look at some benefits of charitable giving and what can be deducted.