Whether you donate to your favorite charities regularly or you are looking to start your donation journey, getting your donations in order before the end of the year is always a win-win situation. There is no doubt that giving away money or time to help others in need can help make you feel good. But did you know that giving money to charity can also help your wallet?

The benefits of donating to charity are almost endless. Charitable giving tends to make people happier and more fulfilled than spending money on themselves. It helps people put money towards causes they care about, as well as helping to enrich their community. It is also vital for many nonprofits to continue with meaningful work. And it can also benefit you with a tax deduction!

Donating to many charities and nonprofits can be considered tax deductible. Some nonprofits, though, are not considered tax deductible. So be sure to check first! If it is regarded as a tax-deductible donation, it can help you when you file your taxes at year’s end. 

In order to get the deduction, you must have your donation given before the end of the calendar year. Also, you must have proof of your gift from the charity to show to your tax advisor. If that isn’t enough, incentive check with your employer. Some will match charitable giving, helping you make a more significant impact, be sure to save your documentation.

Donating isn’t possible for everyone. But if even a small donation to your favorite charity is possible for you this year (or next), don’t hesitate to give! Even a small gift is better than nothing for your charity of choice and your wallet.