One sure-fire way to successfully regift
With more than half a million federally recognized charities soliciting contributions, chances are you'll be sought out as a donor this holiday season. If your heart and your wallet have different ideas about making monetary donations, it is time to summon your inner regifter. An unwanted gift could be a welcome donation to a charitable organization.
For help selecting a charitable organization, visit the Better Business Bureaus’ Wise Giving Alliance. You can also contact the government office responsible for registering charities in your state. A little research upfront will make sure that your donation is put to good use. If the process of selecting a charity seems daunting, remember, you benefit from giving as well.
- Involving your children in the selection of and contribution to a charity teaches valuable lessons.
- You have an opportunity to make a difference.
- Some charitable gifts are tax-deductible if made to a qualified organization. But be sure your organization meets IRS guidelines as there may be different tax breaks when you donate certain types of assets to charity.