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End-of-the-Year Giving

CEDAR RAPIDS, IA (CBS2/FOX28) - The end of the year is normally a time for goal setting and resolutions, but its also when many of us remember we have one more gift to give.  Charities across the country see nearly 40% of all donations come in during the month of December and 10% of contributions in just the last few days of the year.  At United Way, Vice President of Donor Relations Hilery Livengood says after 99 years of helping everyone from Meals on Wheels to the Boy Scouts and Girl Scouts the Live United campaign and everyone else counts on the year end boost.  Its the season of giving so it is often kind of top of the mind and with the opportunity to have a tax deduction thats also the other reason people are giving.   At  the Goodwill Store in Northeast Cedar Rapids the snow is falling, but the traffic is constant.  The cars and suvs come one after another and workers roll carts in and out of the swinging doors as clothing,  dishes and electronics leave the trunks and tailgates and make their way into the sorting room.  Most of those donating stop to get a receipt.  Brent Watkins, with Goodwill says they dont need a calendar to tell what week it is and at the moment its calm.   All these donations go to fund the programs that help the people we serve and it really starts kinda the week leading into New Years Day.  Today and tomorrow will be our busiest days.     While all giving helps our neighbors, a tax deduction is nice too.  Kyle Kunz a CPA and partner at Honkamp Krueger says just make sure you avoid a common mistake.   I think the biggest thing people run into is theyre donating to organizations that are not truly deductible for tax purposes .. so there are a lot of good organizations out there that people want to give their money to, but it has to be a qualified organization.   Kunz says you can find a list of all 5013c  tax deductible charities on the IRS website.  Also keep in mind that checks sent to charities by mail must be postmarked before January 1st and any online credit card donations must be recorded before midnight Tuesday.     
 
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