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Make Your Tax-deductible Donations Matter...It's More than Money!

Posted by Thomas Edwards on November 27, 2017 10:55 AM EST
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One aspect of many wealth management plans and retirement account management goals is to make smart decisions around.....

...charitable giving.  After all, part of a life well-lived and one that makes a difference in the world is how one donates to worthwhile charities who are doing good work in the world.

As one of the people on our blog-writing team for the HealthETeams Support Group, I am a strong believer that strong financial wellness has a connection to some of the other aspects of well-being, such as Community Wellbeing, Social Wellbeing and Career Wellbeing.  Therefore, the role of charitable giving not only is a hedge for helping support worthy causes and projects that help make communities better places to live, work and play, but they are excellent hedges against income taxes-if done well.

That's why I wanted to post an article I read written by Emmy-nominated CBS New Business Analyst Jill Schlesinger that was posted recently on MSN Money's portal on www.msn.com.  I have posted a link to the article here, and simply want to put a highlight on her four key recommendations, along with adding one of my own.

https://www.msn.com/en-us/money/bills-to-pay/charitable-giving-4-steps-to-take/ar-BBFvnJ1

Here are Jill's four tips-mine is a lowly fifth:

1. Confirm that the charity is legitimate.

2. Research the charity to make sure it's in good financial health.

3. Determine how you will donate to the charity.

4. Keep good records of your donation(s).

5. Decide why you want to support this charity-what is it about the charity is particularly important to you and to what you want to support in the world.

As some of you know, I am no financial expert-certainly no comparison the excellent advice and knowledge that Jill demonstrates on air and in this and other written articles.  But beyond the financial benefits that proper charitable contributions strategy may bring, the support of a very worthy and personally important cause can bring a level of satisfaction that quite simply-money cannot buy!

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