Charitable contributions offer proof that the Golden Rule is a credo to live by. It not only allows you to feel good about giving, but lets you receive a tax deduction.
A charitable contribution is a gift to a qualified organization. The tax law allows charitable contributions as itemized deductions. Because these gifts are deductible, the actual cost of the donation is reduced by your savings.
For example, if you’re in the 27.5 percent tax bracket in 2001 (the old 28 percent...
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