Time running out for tax-deductible donations

Time running out for tax-deductible donations
File image of $20 bills (Source: WVIR)

CHARLOTTESVILLE, VA. (WVIR) - Christmas has come and gone, but for nonprofits it’s still the season of giving.

It’s your last chance to make a tax-deductible donation to a nonprofit this year. The deadline to be able to write those gifts off on your 2019 taxes is December 31.

Nonprofits around central Virginia say they do see an increase in gifts during the holidays, and this year is no exception.

“Housing in our community, as we’ve talked a lot about this year, is a critical need. And so this time of year, we depend on a certain amount of donations to come in, because people are giving this time of the year, and so it helps us build year-round,” Kelly Eplee with Habitat for Humanity said.

So, leaving it to the last minute might not be the worst thing in the world.

Starting January 1, all write-offs will have to go toward your 2020 taxes.

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