Once I have a steady income I would like to begin donating to some charitable organizations. What would be a good proportion of money to give in regular donations? (With tax deductions, etc, in mind.)

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Posted by EmmaLia Mariner (MONEY FORUMS: 3, Answers: 0)
Asked on April 24, 2016 10:28 pm
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You will only be able to deduct the contributions if you itemize your deductions. Tax deductions are not a reason to contribute. This is a very personal decision on your part. I know that I have been asked, when preparing budget templates for certain religious groups, to include 10% of income going to charitable donations. As a counterpoint to that, when corporations collect money for United Way, 1-1.5% is usually considered to be a “Fair Share” contribution.

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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: April 27, 2016 9:44 am
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