"It's better to give than receive," but ever wonder how you can give back beyond just giving a few dollars? Here are a few ways that you can give to the back to the community and maybe get a tax benefit.
Here are 4 ways that you can give back to your community:
1. Sponsor local events whether it’s a school function or for the benefit of a local non-profit organization. Many of our communities have people of all ages that rely on the support of our non-profit agencies for assistance.
2. Promote other non-competing local small businesses on your website with a link to theirs and they can reciprocate. It’s one of the best ways that you can show support to your community – buy local!
3. Take up a collection at your office, it could be change for charity or cans for a local food bank.
4. Consider mentoring a youth. There are some programs locally in Palm Beach and Broward Counties in Florida where you can become a volunteer and read to children or help school-aged children with their homework. Other local programs have internships with companies to give college students the opportunity for work experience and school credits. Check with your local educational institutions to see if there are opportunities in your area.
In Summary, this quote says it all.
One more thing. Our Accountant Bahaa Abu-Ghalia recently posted his first blog on our website about 5-Ways To Reduce Your Tax Liability. He talked about his favorite tax deduction to utilize, giving back. Give it a quick read at the link below for ways to reduce your tax liability:
Lastly, remember to consult with an accountant or tax adviser before the coming tax season so that you can be prepared.