Tax Deduction for Charitable Donations Expires Friday
Tuesday, December 28, 2021
There is still time to give to charity and claim a deduction on your taxes, whether you itemize or not, but the temporary pandemic-era deduction expires Friday, the last day of 2021.
The charitable deduction allows a single person to claim a $300 donation, $600 per couple, without the hassle of itemizing.
Liz Moore, executive director of the Montana Nonprofit Association, said now is the time to give.
"$300 goes a long way for little community nonprofits in allowing them to serve and have less reliance on government," Moore pointed out.
Montana is home to about 7,200 charitable nonprofits helping the community in a multitude of ways: addressing issues such as homelessness or hunger, by supporting things like after-school programs, affordable health care, the environment, the arts and more.
Overall, charitable giving is up over the past few years, mainly due to the generosity of mega-donors, but small donations are down.
A study from Indiana University released in July found fewer than half of Americans donated to charity in 2018, down from two-thirds in 2000.
Moore noted it fell after tax reform in 2017 doubled the standard deduction, which may have helped consumers but hurt nonprofits relying on small donations.
"So 90% of all filers can use the standard deduction," Moore stated. "That means they're going to give less, because they don't need it to get that deduction."
Donors are advised to make sure you keep the receipt, so you have proof of the gift when you file taxes this spring.
get more stories like this via email
The Iowa League of Women Voters plans to ask the Iowa Legislature to rethink the voting restrictions put in place prior to last month's midterm electi…
Agriculture groups and government agencies aren't slowing down in trying to convince farmers to use more sustainable practices such as cover crops…
Winter is here, leaving many older South Dakotans vulnerable to social isolation. But a growing body of research, as well as opportunities, shows …
By Jala Forest / Broadcast version by Nadia Ramlagan Reporting for the Kent State-Ohio News Connection Collaboration Nearly 40% of college students a…
The Biden administration has proposed a rule to limit methane flaring from oil and gas development on public lands. The rule would impose royalty …
The flu, COVID and RSV are rapidly spreading in Kentucky, and health experts say that's a problem for hospitals, schools and the state's vulnerable …
As its 125th anniversary nears, the Connecticut Audubon Society has released a report detailing the effectiveness of conservation efforts in the …
2022 was a banner year for women elected as governor. Nearly one-third of America's governors will be women next year, which is a record. Iowa …