The Tuesday after Thanksgiving has become known as Giving Tuesday, a day where we who have much share with those who may need much. Obviously, the past two years have been rough on many people given the Pandemic. Many organizations, particularly NFP organizations have not completely recovered from this. On this Giving Tuesday, remember to give generously to your favorite NFP organization. It doesn’t matter which one it is. Pick a worthy one and help those who help others.
Many employers will match contributions to specific organizations or will match donations made on this day. Please take advantage of this if you are employed by such a forward thinking organization. And remember, charitable contributions up to $600 can be deducted from taxable income in 2021 without itemizing deductions.
Mark Koscinski CPA D.Litt. 