Some things, the IRS says you must do. Other things, the IRS will reward you to do, such as donating to charities that help people from local communities to nations across the globe. Donations of money or property may be deductible and reduce your taxable income. You get to feel good, do good, and save taxes. Talk about a win-win-win situation!
So how can you benefit others and yourself at the same time? Here are answers to questions you may have about whether charitable donations can reduce the bottom line on your tax return.