Tax credits available for some donations.
Loni Nannini Special to the Arizona Daily Star The ball is about to drop on 2022, and many people are thinking about ways to maximize both tax deductions and the impact of their donation dollars.
People are also reading… Ultimately, many nonprofits are feeling the economic instability that donors experience. “You might have a donor who is interested in supporting work for animals and another who is passionate about housing. You might have a 16-year-old who can give $16 or a 60-year-old who can give $60,000. With these funds, the gifts are combined so individuals each have stakes as donors. Many donors see this as a great way to pool resources and allow their dollars to have a bigger impact,” said Flynn.
The tax credits are more vital than ever for many nonprofits, particularly since economic circumstances have created greater need, according to Michele Wright, co-founder of Spreading Threads Clothing Bank, which is one of less than 10 local Qualifying Foster Charitable Organizations. “We are helping grandparents and great-grandparents who are caring for children and living in hotels because they can’t get apartments. We are hearing from families who are really hurting. With food and rent so high, they run out of money after paying for those and have nothing left for clothing and shoes. We are able to fill that gap; it is more expensive for us, but hopefully we can get it done,” said Wright.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXPLAINER: 2023 tax credits for EVs will boost their appealStarting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle.
Read more »
EXPLAINER: 2023 tax credits for EVs will boost their appealStarting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. The credit, part of changes enacted in the Inflation Reduction Act, is designed to spur EV sales and reduce greenhouse emissions.
Read more »
2023 tax credits for electric vehicles will boost their appealStarting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle. The credit, part of changes enacted in the Inflation Reduction Act, is designed to spur EV sales and reduce greenhouse emissions.
Read more »
Wisconsin Republicans, Evers clash over tax cuts, schoolsWisconsin Republicans who control the state Legislature are poised to clash with newly reelected Democratic Gov. Tony Evers over tax cuts , how to fund local governments and whether to expand the private school choice program to wealthier families.
Read more »
EXPLAINER: 2023 tax credits for EVs will boost their appealStarting Jan. 1, many Americans will qualify for a tax credit of up to $7,500 for buying an electric vehicle.
Read more »
Letters to the Editor: The public service done by Democrats in releasing Trump's tax returnsTrump still wants to be president, and Americans have the right to know about conflicts of interest and tax problems.
Read more »