On Tuesday, November 29, 2022, organizations, communities, and people all across the nation will come together to support those that are in need the most by giving in any way possible. GivingTuesday is a movement of generosity acknowledged globally that moves hundreds of millions of people each year to support others by donating time, money, or monetary support.
As the 10th anniversary of this event and the holiday season approaches, there are numerous ways that you can give back. Whether you can participate virtually, in-person, monetarily, or action-based, no gift is too small, and all acts are appreciated by the organizations you support.
With the COVID-19 pandemic mostly behind us, donations may not seem as needed in our current economy, but that is not reality. Nonprofit entities heavily rely on the monetary donations that are made each year, as well as the time that individuals give to support their mission and work. The undeniable truth is that these organizations would not be able to carry out their mission without their communities, and it is up to us to support them in whatever capacity we can. Reach out today to your local, charitable organizations to see how you can best help and serve on GivingTuesday.
To verify and ensure that your monetary contributions are made to qualifying organizations, you can use the "Tax Exempt Organization Search"tool provided by the Internal Revenue Service (IRS) to search most eligible charitable organizations. Taxpayers must make contributions by December 31, 2022, in order to claim the deduction on their 2022 federal income tax return. It is imperative to maintain clear and organized records of all gifts made.
For additional information, please contact any of your trusted advisors at HHM today.