Charitable giving is a meaningful step if you’re looking for a way to make a real difference while lowering your taxes.
Donating to a qualified nonprofit, like Beyond Basic Needs, you help people facing the hardest fight of their lives, and you might reduce your taxable income in the process. Here’s how:
Itemize to Make It Count
To claim a deduction, you’ll need to itemize your taxes. That means listing out your eligible expenses, including charitable contributions. You could lower your tax bill if your total deductions are more than the standard deduction.
Some donors choose to “bundle” their gifts, donating several years’ worth in one year, to reach the threshold for itemizing. This approach increases impact and maximizes the tax benefit.
Consider Donating Stock or Assets
Giving long-term appreciated assets, like stocks, is one of the most tax-efficient ways to support nonprofits. You avoid paying capital gains tax, and you can deduct the full value of the asset. That means more support goes directly to the causes you care about.
Save on Taxes. Support Real People.
Donating to a qualified nonprofit lowers your taxable income and lifts someone up. If you give over $250, keep your receipt or acknowledgment letter from the organization. It’s not just a tax rule, it’s proof that your gift mattered.
Looking for a way to make your donation go even further? Some people contribute through donor-advised funds or employer matching programs. Others give appreciated assets like stocks to reduce both income and capital gains taxes. Talk to your financial advisor to choose what’s best for you.
Your Gift Delivers More Than a Deduction
At Beyond Basic Needs, your donation delivers something tangible: Chemo Care Kits filled with comfort, relief, and encouragement for cancer warriors. These aren’t medical supplies. They’re reminders that someone cares. Every warm sock, gentle lotion, and note of encouragement tells a patient, You matter.
If you’re considering reducing your taxable income this year, consider giving in a way that brings comfort and hope to someone who needs it most.
Donate now and lower your taxes while raising someone’s spirits.
