How You Can Benefit by Giving at Year-End

benefits of year end giving
by SalvationArmy.ca
Categories: Articles, Feature, Mobile, Newswire
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As 2014 quickly comes to an end, we reflect on the past and start planning for the new year. Now is a good time to consider making a year-end donation to charity.

Maximum tax benefits depend on timing. When you make a gift to The Salvation Army by December 31, you not only improve the lives of those most vulnerable in our society, you strengthen your own financial situation. In addition to the good feeling associated with giving, you will feel good about saving on taxes.

The Salvation Army provides several methods for making a donation.

General Donations: General donations are simple and direct. You can make an unrestricted donation to be used where the need is greatest, or designate your gift for a specific program.

Gifts of Securities: By donating a stock, bond or mutual fund directly to a charity, you avoid having to pay any capital gains taxes on their appreciated value. In addition to eliminating the capital gains tax, you also will receive a charitable tax receipt for the market value of the shares when received in the Army’s bank account.

A large portion of The Salvation Army’s fundraising occurs during its Christmas campaign and at the close of the calendar year. These donations set the precedent for the upcoming year and help us to continue to support millions of people in need across Canada.