By Alyce Lomax
December 23, 2015
The year is drawing to a close, but The Motley Fool’s annual Foolanthropy campaign is still in full swing. We’ve already outlined how together we can help cost-effectively transform thousands of women’s lives and realize maximized outcomes for giving dollars through this year’s partner, Fistula Foundation. (Visit the donation site here.) But there’s yet another great reason to give: tax benefits. The IRS has provided an attractive route to give to others andeven get a little something back, too.
A big, benevolent bang for your buck
As charitable donors choose qualified tax-exempt organizations and itemize deductions when they file their taxes, their contributions lessen their annual tax bills.