Al Harsar, CPA on the power of Giving Tuesday:
In just over a week, preparation for holiday season gift-giving will be in full swing. But what about focusing on something other than presents during this charitable time of year?
Giving Tuesday was a movement started in 2012 to set one day aside each year to promote charitable giving. The date chosen was the first Tuesday after Thanksgiving, and it has grown in popularity each year since. Giving Tuesday 2016 is November 29th… are you ready to donate?
The idea behind Giving Tuesday is to get people to donate to a charity that they support in response to the spending that they will begin for the Christmas holidays, starting with Black Friday and Cyber Monday.
Over $100 million was recorded as transfers to charitable organizations on this day for 2015. These charitable donations are deductible on personal tax returns, subject to certain limitations, and are also deductible on business returns if the business makes the donation.
You can learn more at the official Giving Tuesday website.
This movement shows the power of the internet and social media when it comes to charitable giving – let’s all consider joining the movement on November 29th for Giving Tuesday!