Did you know that minimizing your taxes is easier than you may think? There are multiple ways you can reduce your taxes dramatically. In order to reduce the amount of taxes you owe as much as possible, it is important to make sure you have claimed all eligible deductions. The more deductions you claim, the less money you will owe. In fact, come tax season, you may even be entitled to a refund! One of the most popular ways to increase your tax deductions is by making donations to eligible charities. If you make a donation to a charity that qualifies for tax deductions, then you are able to claim those deductions on your taxes. At Bennett CPA, I strive to ensure our clients’ taxes are as affordable as possible. To help you increase your tax deductions, I have compiled a list of three charities that are eligible for tax deductions, including the following:
1. BEE World
BEE World, or Biblical Education by Extension, is a Colorado Springs-based religious organization that aims to assist churches in providing necessary biblical training. It strives to supply pastors and church leaders in less privileged places with carefully executed instruction on religious practices. Making a donation to this organization is simple and quick! You can either donate online via credit or debit card, or write a check. This is a wonderful organization to donate to because not only will your donations be tax deductible, but they will also assist in bettering the world!
2. Springs Rescue Mission
Another organization in Colorado Springs is the Springs Rescue Mission. In addition to providing those in need with warm, safe places to sleep, the Springs Rescue Mission also supplies hot, prepared food, job training, and rehabilitation resources. The Springs Rescue Mission offers many options for those who are interested in donating. Depending on how you would like to donate, you have the option to make a monthly donation or one-time donation, as well as provide food at certain drop-off locations. Helping organizations such as this will help reduce your tax liability while also improving lives in the Colorado Springs community!
3. The Boys & Girls Club Of The Pikes Peak Region
A third organization that is a wonderful choice to donate to is the Pikes Peak location of the Boys & Girls Club. Offering over 30 national programs, this organization focuses on providing youth with multiple programs for young students. It encourages young children to reach their full potential by providing opportunities and activities in a safe, productive, and beneficial environment. If you are interested in donating to the Boys & Girls Club, all you need to do is visit their website, click on the “More” tab, then the “Give” tab, and choose how much you wish to donate.
Reduce Your Tax Liability With Bennett CPA
Charity donations are one of the most rewarding ways to reduce your tax liability. You will be reducing the amount of taxes you owe while simultaneously improving the beautiful community of Colorado Springs. At Bennett CPA, my top priority is helping you meet your tax needs. Whether you need assistance with charity tax deductions, or you want to discuss your business tax strategy, I am here to help you improve your taxes as much as possible. To learn more about how I can help you, contact me today!