Many individuals are preparing for gifts, new recipes, family and friends, and charitable contributions.
Charitable giving is one of the most anticipated gestures of the season. Many say giving makes them feel good about helping others and they are doing the service out of the goodness of their hearts and for the community.
But, although donations of gently used clothes, toys, and monetary contributions do help others less fortunate, are we really doing it solely for the benefit of others? What if we never received a warm and fuzzy feeling from the contribution? What if we never received tax credits from our donations?
Donations to charity are tax deductible expenses and can reduce your taxable income. Although, not everyone can receive tax credits and would need to itemize their tax deductions to claim any charity, it is still a common reason for charitable contributions, especially during the holidays.
The issue with receiving tax credits in lieu of a charitable contribution is, if an individual is truly contributing to the underserved from the goodness of their heart, in the holiday spirit, and for the benefit of others, is it really necessary to request the tax credit?
This now becomes a benefit for them and the charitable contribution is really, well, no longer charitable.
This is especially true around the holiday season. We do many things to impress others including buying overpriced gifts and going out of our way to feel the holiday spirit and, in the end, are we really contributing from the depths of what the season means?
I challenge us to think. Why does it only have to be around the holiday season that we embrace the fruits of the spirit in love, joy, kindness, peace and so forth?
This holiday season, take the time to reflect on what it means to give, and acknowledge how sacrificial it really is at times.
Without correcting this mentality we are simply being hypocritical in our holiday giving, as we embrace the rewards during a new season – tax season.