Tips for Making Last Minute Tax-Deductible Donations
NORTH CAROLINA -- If you're looking for a last minute tax break, donating to a non-profit may be your easiest option. And one North Carolina organization currently has a grant to match all donations. But if you want that tax break, you're quickly running out of time for it to count this year.
Each prescription filled by NC MedAssist means one more person in need will receive free medicine.
"Our patients are low income and uninsured,” said Foundations and Communications Director at NC MedAssist, Kristin Young. "Each day they have to decide if they're going to put food on the table or buy that prescription medication they need. Howeve, MedAssist is there so they don't have to make that decision."
The non-profit says for every dollar donated, $13 of medicine can be dispensed back into the community. Monetary donations are key to helping serve their more than 12,000 current patients.
"Your last minute donation could go even further," said Young.
That's because NC MedAssist received a matching grant, up to $100,000. For every dollar donated, the Leon Levine Foundation will match it 100 percent which means double the number of prescriptions can be filled.
But for those donations to count toward 2015 taxes, they need to be made before Jan. 1.
The IRS has several tips for deducting charitable contributions. You must give to a qualified organization. No matter the amount, you must have a record of the donation and fill out the proper forms when filing your taxes.
The BBB also warns people to double check who they are giving to, so they don’t get scammed.