’Tis the season of generosity; here’s 5 tips for year-end giving
The season of giving is upon us. Along with the parties and holiday cheer comes an opportunity to reflect on what we have and where we can give back. This time of year also marks the end of the tax year — the deadline for charitable giving in order to receive a tax deduction. Here are five tips to help make the most of your year-end giving.
1. Give on Colorado Gives Day! Colorado Gives Day is an annual statewide movement to celebrate and increase philanthropy in Colorado through online giving. This year Colorado Gives Day is Tuesday, Dec. 5. Visit www.ColoradoGives.org to learn about local nonprofits and schedule your donation today. Some local nonprofits to consider are the Sterling Family Resource Center, the Haxtun Community Childcare Center, the Melissa Memorial Hospital Foundation, the Haxtun Hospital District Foundation and the Wiggins Community Fund-Pool Project. Last year’s event raised $33.8 million for Colorado nonprofits!
2. Talk to your advisor. Contact your financial advisor, CPA or attorney to learn how a gift could offset your tax liability. Gifts by check must be postmarked by Dec. 31 to be eligible for the tax year. Gifts of stock and real estate should be made as soon as possible to allow time for processing.
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