charitable deductions

Charitable deductions are tax benefits you can claim when you donate money or goods to qualified non-profit organizations. These deductions reduce your taxable income, which may lower the amount of taxes you owe. To qualify, donations must be made to approved charities, and you'll need proper documentation like receipts. Keep in mind that deductions are subject to certain limits based on your income and the type of donation. Essentially, charitable deductions reward your generosity by providing a tax incentive, encouraging support for causes you care about while potentially reducing your overall tax bill.