Planning for Life

Take Advantage of One-Time Charitable Tax Deduction Before End of Year

Posted by Harry S. Margolis on November 25, 2020

By Harry S. Margolis


It's always a good time to give to charity, but did you know that Congress has made it an even a better time now, at least for the first $300? Since the increase in the standard income tax deduction in 2018, only 11 percent of taxpayers itemize deductions, so fewer taxpayers take advantage of the charitable deduction.

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Topics: charitable giving

How Much Should You Give to Charity? When? Which Charities?

Posted by Harry S. Margolis on February 5, 2019

By Harry S. Margolis


How much should any of us give to charity? When? Which charities?

I raise these questions being troubled by my own charitable giving. In large part, I engage in random acts of charitable giving with no thought out plan. Instead, I respond to solicitations, making gifts on how I feel about the organization and how flush I feel at the time. My feelings about each group may be influenced by important factors, including:

  • Personal connection.
  • My sense of how effective the group is in its mission.
  • The need of the people helped by the organization.
  • Whether my donation will have a significant impact.
  • Whether my donation will be noticed, in other words will people in my community see my name on the list of donors.
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Topics: charitable giving

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