Many Making Charitable Donations at End of Year
Charities benefit from those looking for tax cuts
ANCHORAGE - The holidays inspire generosity, and local nonprofits may benefit from gifts given this season and all year round.
Those last minute donations could mean a tax cut for certain donors -- enrolled agent Jamie Berge said like any tax question, it depends.
Your tax bracket and the type of return you fill out impact your tax benefit. Berge said charity supporters should "give for the charity, not for the tax break."
Local nonprofits say getting that end of the year bump definitely helps. Jim Makenzie with the Food Bank of Alaska said, "In January and February it's really tough, and it's huge for us to get increased donation because it helps us purchase food, which we have to do a lot of."
Sue Brogan, Vice President of Community Engagement for United Way, reminds donors that this year, the tax code is clear, but it could change on the federal level next year. "I think people that are planners will take advantage -- and of course any time of the year, there are opportunities to give," she said.