Browsing Tag

charitable donations

Gifts

Be Informed Before Donating To Charities

It’s a great idea to donate money to charities; however, it is very important that you do your homework before making a commitment. Do not let anyone pressure you into making a decision on the spot. Be sure to tell them to come back or call back later so that you have time to look into the charity further. You work hard to make money, so you don’t want to give it away to just anyone. You need to make sure that the charity is legitimate and that they are not wasteful with the donations they receive.

Canadians have a great resource that will aid them in making an informed decision about who to donate to, and where their money goes. The Canada Revenue Agency (CRA) website has a section devoted to charities, and it provides Canadians with a user friendly resource for quickly searching and learning about various charities.

October 5, 2012

Taxes

Giving To Charity? Take Advantage Of The Tax Breaks

Generosity Pays Off

Your first $200 of donations made to a registered charity results in a 15 per cent federal tax savings. For every dollar over $200, you receive a 29 per cent tax credit.

Donation Limits

Your donations cannot exceed 75% of your net income. The only exception is in the year of death or the immediate preceding year and then donations can be 100% of net income.

December 5, 2011

Money Saving Tips

Lottery Windfall Could Make 78 Percent Of Canadians More Charitable

Canadians are generous with more than 88 percent saying they already donate money to charity and 78 percent saying they would likely donate some if they received an unexpected windfall, according to a recent survey by Leger Marketing for H&R Block Canada.

In addition, the majority of Canadians (63% percent) also think they should be able to claim non-money donations on their tax returns. This would include donations of personal property and volunteer hours.

November 23, 2011

Gifts

Do Not Wait Until You Are A Billionaire To Be Generous

Christmas is a time of giving, and it is intriguing to read the various articles that have been written about the famous billionaires who are giving so much of their wealth to charities. Examples include Facebook founder Mark Zuckerberg as well as George Lucas. Bill Gates and Warren Buffet started a Giving Pledge and many billionaires have joined in and the result is extreme generosity.

It just goes to show that if the wealthy are willing to share their wealth with others, the world can definitely be a better place. After all, they won’t be able to take their money with them so they might as well brighten someone else’s day with it while they can.

December 23, 2010

Household

Give Away The Things You Never Use

Every once in a while I go through my drawers and my closet and remove items of clothing that I either never wear or am highly unlikely to ever wear again. Sometimes I find it hard to part with my things, even though I know I never use them, however, I find that “decluttering” is a great way to make better use of my closet and drawer space, as well as a neat way to help others in need. And yes, I just made up my own word. I think the English language needs a word like “decluttering”.

Once I have rounded up all the items of clothing, and possibly some shoes, etc. I drop them off at a local thrift store. Someone else might as well make use of them. This also goes for other miscellaneous items around our house. About every six months or so we get the urge to do some “Spring cleaning”, and you would be surprised at how many things we discover we have that were hidden away and never used.

November 11, 2010