To help our clients find the best local nonprofits to build up our community in Cedar City, UT, AA Tax & Accounting Services has chosen to highlight several nonprofit organizations. For this month, we have chosen Chrysalis as a potential nonprofit for you to support for your next tax benefit.
Tax Benefits For Choosing To Support A Nonprofit
As our accounting firm works to provide you with the best information on financial matters, a common question we receive is how supporting a nonprofit can be a tax benefit. With the recent changes to the tax laws, how this can benefit your tax preparation has changed.
Cash deductible donations to a 501(c)(3) were previously restricted to only allow 50% of your donation to be in cash. Now, you can make 60% of your donation to a nonprofit be in cash.
Another change, the raising of the standard deduction, may make it difficult to itemize your charitable donation. Be sure to consult with our accountant to ensure that your charitable donation can become tax-deductible.
Support Organizations Encouraging Self-Sufficiency
When choosing a people-focused nonprofit to support, many people prefer to support organizations which help improve the self-sufficiency of the recipients of the charity’s aid. If you are of this mindset, then Chrysalis is a nonprofit you may want to consider as a recipient for your next charitable donation.
Chrysalis’ mission is to support and provide opportunities to individuals in Cedar City, UT, who are living with disabilities, that way these individuals can become more fully integrated parts of their community. The services this nonprofit offers are:
- 24-hour supervised home care
- Behavioral services
- Financial management assistance
- Personalized individual planning
- Medical care
For more of their services, be sure to refer to Chrysalis’ services information page. Many of the services we have mentioned are on their 24-hour Residential Care page, so be sure to check through all their offered services to be sure this is an organization you want to support.
Have Your Donating To Chrysalis Incorporated Into Your Taxes
It can be tricky to prepare your taxes correctly to ensure your charitable donation is properly included into your taxes, especially with the tax law changes. If you want to feel more confident in your tax filing, you will want to work with AA Tax & Accounting Services, LLC, to prepare your taxes. Contact us for an appointment so our accountant can help make sure your tax deduction is properly applied to your set of filed taxes.