Finance & Enjoyment Blog

Why Giving to Charity is Important

At KKP-CPA we realize that every dollar you work for is precious and there are endless amounts of ways to spend it. You may be saving for a fancy car or a new wardrobe, but instead of treating yourself, think about the benefits of rewarding someone less fortunate. According to a study by Harvard Business School, participants who gave money to someone else were happier than those who spent it on themselves. Here are just a few reasons why giving to charity is important.

Charitable Giving Isn’t Just About Money

Giving your money to charity is just one of the many ways to help others. While funds are what most charities rely on, they can always use the help of volunteers as well. If you are strapped for money and don’t have much to spare, think about donating your time instead. If you find a charity that you would like to support, ask them if you can come in once a week for two hours to help make a difference. Charities are extremely grateful for both funds and volunteers, which means your help will never be turned away.

Donations Are Tax Deductible

Another plus side to donating to charity is that in the case of monetary donations, when you give to a non-profit, the amount that you donate is tax deductible. This not only includes your donation, but also any fees related to the charity. This could be anything from an event fee, to a parking ticket or plane ticket. Keep this in mind next time you are debating about giving to a non-profit charity.

Supporting a Cause Will Keep You Informed

Sometimes it is easy to get sucked into your daily life and forget to stay involved in social issues. When considering what charity to join, research the organization first. As a result of this research, you will be more informed, which can lead to involvement in an issue facing social injustice. Once you’re well informed you can always share this new information with others and help keep the cycle going among the community.

Improve Your Sense of Well-Being

While giving to charity is essentially about others and the organization, there is also a personal benefit. Helping others can create an improved sense of well-being. Knowing that even a little bit of your time or money is making a huge impact on someone else’s life is an empowering feeling. When you give to others you may find a new life purpose or even a sense of satisfaction.

How to Use this Information

We highly encourage you to find a charity that interests you, so you can help others and experience the happiness that comes with giving back. We understand what it means to help others in business. Please give us a call at 303-815-1100 or Contact Us Online the next time you need to utilize any of our services.

What charity do you currently support and why?

Posted in Retirement and Exit Strategies »

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