Donations to charity
are tax deductible expenses.
These donations can reduce your taxable income and lower your tax bill.
The fact that charitable giving can help reduce your tax burden is well known, especially if you are in a high bracket. But.. The benefits of giving extend far beyond just tax breaks.
A study by a University of Oregon professor & his colleagues demonstrates that charitable contributions create a response in the brain that mimics one activated by drugs and other stimuli. This response elicits a surge of dopamine and endorphins that are experienced as “hedonic” and rewarding. Charitable giving can feel pleasurable in the deepest parts of your physiology – more so than a night on the town or a new outfit.
Improve Life Satisfaction
A German study provides ample evidence that people who give more to others – in both time & in resources – experience greater satisfaction in life than people who do not. In fact, communities of people with high levels of giving tend to demonstrate greater satisfaction within the community than groups of people who do not give generously. Essentially, you’re going to be happier in your community if it is made up of folks who give to one another.
Feel Happier
While life satisfaction is one thing, general happiness is another. In a study by professors at the University of Missouri – Columbia & the University of California – Riverside, people who gave to others tend to score much higher on feelings of joy & contentment than individuals who did not give to others.
Reduce Rates of Stress
The improved happiness & health of people who make charitable contributions is likely linked to reduced rates of stress, as well. Researchers at Johns Hopkins University & the University of Tennessee found that charitable givers experience reduced rates of stress & also lower blood pressure compared to those who do not give.
Reduce Your Tax Burden - Charitable contributions can reduce your tax burden at the end of the year. If you are itemizing your tax return, you can report the dollars that you contributed to charity for a deduction in your taxable income. Even if you are short on cash, you can donate unwanted items to charity: (vehicles, collectibles, real estate, computers, and more ) & claim the value of these goods as a deduction.
Visit us online to more: http://www.withcauses.org/
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