Vail Daily News for Vail and Beaver Creek Colorado - News: "Charitable giving pays off - for everyone
Charlie Wick and Tina DeWitt
October 13, 2005
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You've probably heard that 'generosity is its own reward.' This may be true, but when you make a charitable gift to a non-profit organization, your generosity also can reward you - especially when you file your taxes.
In fact, you can get at least three types of tax benefits:
Immediate tax deduction - You can deduct your charitable gift from your current income taxes. For example, if you give $1000 in cash to a charitable group this year, and you are in the 28-percent tax bracket, you can deduct $280 from your taxes on your 2005 tax return."
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