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Two Days Left to Donate to Receive 2013 Tax Deductions - NBC29 WVIR Charlottesville, VA News, Sports and Weather

Two Days Left to Donate to Receive 2013 Tax Deductions

Posted: Updated: 12/29/2013 5:37:40 PM
Center for Nonprofit Excellence Center for Nonprofit Excellence
CHARLOTTESVILLE, Va (WVIR) - Christmas might be over, but that doesn't mean the time for giving has to be. You have two days left to make a tax deductible donation to the charity of your choosing if you want it to count toward your 2013 tax return.

The Center for Nonprofit Excellence in Charlottesville is urging people to donate to their favorite charity before the year ends. Thanks to the internet donating now just takes the click of a button.

Michelle Miller with Liberty Tax Service sees a win-win with tax deductible charitable donations.

“Goodwill sells the stuff which goes back to your community,” she says. “It also helps you because you can write it off for your taxes.”

Taxpayers don't have to pay income tax on money donated to nonprofits before the end of the year.

Marisa Vrooman with the Center for Nonprofit Excellence, CNE, says many nonprofits are trying to make their annual budgets right now.

“They are really relying on gifts from people like you and me to make up that difference,” Vrooman says. “Individual contributions are the most secure funding that nonprofits have.”

When choosing a nonprofit to donate to, there's no lack of variety. Vrooman counts more than 600 nonprofits in central Virginia. CNE has a directory on its website to make it easy to explore what each organization does. Most of the nonprofits have a giving page, so you can donate online.

There are several things to keep in mind when deciding which nonprofit to support.  “You should look for effective programs, strong board and staff leadership and financial transparency,” Vrooman says.

Just like there are plenty of nonprofits to choose from, there are also a variety of things that count as a deductible donation come tax time. “You donate to your church when you give your weekly offering, cash works, clothes, shoes, TV's even automobiles you can deduct,” says Miller.

Miller’s number one piece of advice is to keep receipts, without those, it's hard to write off donations.

You have until midnight on December 31 to make your donation count on this year's taxes.

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