Tax tips: End-of-year donations

As the year winds down, the thoughts of many turn to giving. The Kiwanis International Foundation is grateful to those who keep us in mind. We’re pleased to offer a few tips to help you make the most of your end-of-year gifts.

For instance, you might consider:

• Itemizing your gifts rather than taking the standard deduction. You could even make donations in one year that you might normally make over two, and then itemizing.
• Deducting out-of-pocket expenses associated with your charitable work. For instance: mileage, parking and tolls.
• Contributing appreciated stocks, bonds or mutual fund shares. Transfer shares directly from your account—enjoy the deduction for the full current value and avoid capital gains tax.

As always, we encourage you to seek advice from your accountant or financial advisor. Learn more about how your gifts to the Foundation are making a difference.