Help Ukraine and reduce your tax bill. How to deduct donations from your taxes?

Giving to charities is a selfless act, but that doesn’t mean you shouldn’t benefit from bonuses that come with it. Many countries, including the US, which we’ll talk about in this article, allow you to get a tax deduction for your donations. The process is fairly simple, too, so let’s get straight into it.

1. Keep records
   Taxes are all about documentation, and the same rule applies to donations. When you donate, collect your receipts and email confirmations. You will need them to arrange the deductions when it’s tax time.
   
2. Pick an approved charity
   A key step in the process is making sure you’re donating to organizations that are approved for tax-deductible donations. Most established organizations will be on the list, but you can always double-check on the IRS’s Exempt Organizations Select Check website. If the organization you’ve donated to is on the list, it is also a good sign that it can be trusted with your donations.
   
3. Figure out your deduction
   For donations to public charities, you can usually deduct up to 60% of your income. If you donate things instead of money, like clothes or furniture, you can claim the fair market value and include them in the deduction.
   
4. Report it on your taxes
   Finally, once you start filling out your tax forms, calculate your deductible donations and put them on Schedule A. The IRS may or may not ask you to confirm those with receipts, so keep them at hand in case you need them.
   

Taxes are not rocket science, but for many people, they are definitely up there. As you can see, getting a tax deduction for your donation is a really straightforward process. Rescue Now is proud to be IRS-approved with a 501(c)(3) status, which allows you to include your donations to us in your tax forms. Every donation is used to help Ukrainian civilians in need and makes a world of difference. We hope the possibility of receiving a tax deduction will encourage you to donate more and also serve as a sign that you can trust Rescue Now with your donations.