'Tis the Season for Giving
The holiday season is the time of year when most Canadians consider giving to charities. There are many worthy causes out there, and for those who are too busy to volunteer, a quick and easy financial donation is a great way to make a difference.
No matter how big or small, donating to a charity can have positive personal effects including increased satisfaction, a sense of civic engagement and even reduced stress. Furthermore, charitable contributions reduce your taxable income, meaning that you could potentially pay less taxes. For a detailed guide on how to claim a charitable tax credit, please visit the Canada Revenue Agency website.
Charities often receive a large portion of their annual totals in December. This is because many donors choose to give a one-time lump sum. An alternative method of donating is to commit to a monthly contribution. Charities prefer this because it provides them with a more predictable cash flow. For more information on ways to donate strategically, consider borrowing the titles below.
Staff at the Toronto Public Library support the Toronto Public Library Foundation and United Way. I routinely donate to the Canadian Red Cross after each major natural disaster. It's always a good idea to do some research into the charity to see how your money gets spent. Either way, setting aside some money to give to a charity of your choice can be rewarding both personally and financially.
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