EveryJoe » philanthropy

Give…And Get a Tax Deduction

Miranda Marquit — Sun, 13 Dec 2009 15:49:37 +0000

Of course, the only reason we give shouldn’t be for a tax deduction. But it is a nice bonus that you can get a tax advantage when you choose to donate in order to help others. And, with the holiday season prompting a little more generosity — and the end of the year providing a catalyst for improve tax efficiency — it is little surprise that many are trying to figure out what they can donate. The good news is that there are some tax advantaged ways to give.

You probably already know that you can write a check and deduct that (as long as you have a receipt to back it up in case of audit). But there are a couple of other charitable donation options that can net you a tax advantage:

Investments: You can donate investments that have gained. If you donate an investment that has gained value over the years, you can avoid capital gains on the increase, and you can take a tax deduction for the entire value of the investment. If you want to donate a losing stock, though, you are better off cashing it out, taking the loss (which can be tax advantaged) and then taking the deduction for a cash donation.
Stuff: You can get a tax advantage for donating stuff in good condition. Just make sure that the items are usable, and make sure that you get a receipt from the eligible charity to which you donated the items.

There are plenty of opportunities to give to others this time of year, and if you plan it right, you can receive a financial advantage in addition to the emotional and intangible advantages associated with giving.

Image source: Wikipedia Commons

Post from: EveryJoe

Give…And Get a Tax Deduction

So, what will Bill do?

Jason Bean — Fri, 23 Jun 2006 00:42:57 +0000

Through the discussion of Bill Gates announcement to slowly phase himself out of the daily operations of Microsoft, we’ve heard that he plans on focusing his time and efforts on the Bill & Melinda Gates Foundation. But what exactly does that mean?

If you’re not aware of the types of things the foundation is involved in, maybe this will help:

Looks like he’s been pretty productive and helpful to society and hasn’t even been focusing his efforts on the foundation. Let’s see what happens now.

Post from: EveryJoe

So, what will Bill do?

Employee’s View of Role Changes

Jason Bean — Fri, 16 Jun 2006 13:55:35 +0000

Heather over at Heather’s “Marketing at Microsoft” Blog shares her thoughts about the changes.

I think the potential of Bill to become the biggest philanthropist of all time is pretty cool. The thought of his mind focusing on health care and education issues full time has a broader potential impact, so my excitement around this comes from the perspective of being a citizen of the world versus a knowledge worker or Microsoft employee.

My thoughts exactly!

Post from: EveryJoe

Employee’s View of Role Changes