Charitable Contributions Save Money on 2009 Taxes, Save the Industry

摘要

It's hard to believe 2009 is drawing to a close. With the holidays right around the corner, tax season starts to ramp up. Have you considered what a donation to a 501(c)(3) can do for your tax savings? Skeptical about the actual cost of a donation? Check out this example: Gifts to foundations such as Nuts, Bolts & Thingamajigs— The Foundation of the Fabricators & Manufacturers Association Intl. (NBT) are deductible. The actual cost of the donation is reduced by your tax savings. According to Charity Navigator, if you are in the 33 percent tax bracket, the actual cost of a 100 dollars donation is only 67 dollars (100 dollars minus the 33 dollars tax savings).