Tax Law Change

'Tis the Season for Giving

The holidays are the time for giving. Americans donated $592.5 billion in 2024 which was an increase of 6.3% over the prior year 1 . Even though that is a staggering stat, what’s even more impressive is that nonprofits generally raise between 24% and 47% of their total annual revenue during November and December 2 . Not only does charitable giving make us feel like we are making a difference in someone’s life, but it can also be a great tax deduction. Below are rules and limi