Tax planning when giving to charity

WFTXPublished: October 5, 2017
Published: October 5, 2017

Between hurricanes and the recent Las Vegas shooting, we know a lot of you are giving to charities right now. You should also know the tax implications. Waterstone Financial owner James Gallagher has some tips. He says the IRS gives you a big tax break if you use distributions to give to your charity. He says not all charities are the same. For the IRS to allow your deduction, the charity must be registered. Most churches are registered, as will as big charitable organizations. You can check the validity of the organization online on websites like Charity Navigator or Charity Watch.

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