Browsing Tag

donate

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.

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Gifts

Tips For Making Donations

We all want to help those in need.   With the tragic news of the massive flooding in Pakistan, it is only natural for people to want to pitch in and help out.  Just make sure to follow these basic tips before making a donation.

Make sure that the organization you donate to is a legitimate one.  It is safer to select an organization that you have heard of and you know is reputable such as the United Way, UNICEF, World Vision, etc.  These established organizations have the experience in providing cost effective aid.  As well, you will feel safe in knowing that their websites are secure should you choose to donate online.

Avoid donating to smaller organizations, especially if you have never heard of them. Unfortunately there have been cases of criminals pretending to be collecting money to provide aid and it turns out they are only concerned with lining their own pockets.

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Taxes

Donate And Get An Income Tax Credit

You can decrease the amount of income tax you pay by donating money to registered charities. When you file your taxes, be sure to include all your official donation receipts received from the organizations in order to take advantage of the tax credit.  Donating to charities is a meaningful way to decrease your taxes and to support a cause you are passionate about.

How do I know if a charity is registered?

If you are unsure if a specific charity is registered, you can search the listings on the Canada Revenue Agency (CRA) website.

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