Legal Tax Write Off
The Helpful Hands Foundation
Get receipt with every donation!
Legal tax write off is any legitimate donation or expense that can be deducted from your taxable income on your tax return. For many, this is the trickiest part of filing their income tax, particularly because there is a fine line between which expenses are deductible and which ones are not.
When businesses or individuals file their income tax return, they are able to write off expenses or donations incurred to run the business and subtract them from their revenue to determine their taxable income.
Tax deductions reduce your taxable income. That means you calculate your gross income for the year and then subtract expenses before figuring your taxes. If you earned $50,000 and deducted a $5000 in expenses, you would pay taxes on $45,000. The amount a deduction saves you in taxes depends on your tax bracket.
Benefit of donating to a 501(c)(3) nonprofit organization is that you can donate up to 50 percent of your Adjusted Gross Income.
The Helpful Hands Foundation accepts donations. As a charitable organization we give the donors a tax deduction for every donation made. Please contact us for any details.
The Helpful Hands Foundation, Inc. is classified as a public charity under Internal Revenue Code section 501(c)(3).
Donors may deduct contributions to The Helpful Hands Foundation, Inc. as provided in section 170 of the Code.
Bequests, legacies, devises, transfers or gifts to The Helpful Hands Foundation, Inc. and for The Helpful Hands Foundation, Inc. usage are deductible for Federal Estate and Gift Tax purposes according to meeting applicable provisions of section 2055, 2106 and 2522 of the Code.
Fundraising Registration - CH27918