Hi friends and welcome back to Moneygirls quick and dirty tips for a richer life.

I'm Laura Adams, your host and the author of the brand new book Money Girls Smart

Moves to Grow Rich.

Find the paperback or ebook at your favorite bookseller or online retailer.

Charities have really suffered in recent years due to the lacklustre economy

that makes this holiday season a great time to dig deep and give

what you can to organizations that mean a lot to you and your family.

Giving always makes you feel good and if you make a donation before the end of the year, it might

also reduce your tax bill.

The IRS rewards generosity with money saving tax perks for certain charitable contributions.

In this podcast, I'll tell you how to maximize your donations

and make the most of your charitable giving in five simple steps.

Step number one, give to qualified organizations.

The first step to maximizing charitable giving is to make donations to qualified organizations.

You can give money to any group you like, but you won't be able to claim a tax deduction

unless the charity is eligible to receive tax deductible contributions.

Most public schools, churches, and temples are automatically qualified, but for smaller

groups, ask for documentation of their eligibility, or look them up online using the IRS

search tool. If you mail a check or make a credit card donation by December 31st, you'll make it in time for the current tax year, even if you pay

the credit card bill next year.

It's important to note that certain donations are never tax deductible, like those to individuals, political campaigns, business

associations, and for-profit organizations.

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