2. One financial benefit of giving is that your contribution may be tax deductible.

a. True

b. False

Question

Valerie Gutierrez

Business

16 December, 23:15

2. One financial benefit of giving is that your contribution may be tax deductible.

a. True

b. False

+1

Answers (1)

Know the Answer?

Quentin Mcgee · Answer 1

True.

Explanation:

One of the financial benefits of giving in the contribution can be the tax deduction. Although, there are few conditions and terms that one should keep in mind. If the contribution is made to a legitimate organization or any legitimate charitable trust, which has their names listed as the 501 (c) 3 organization, then the tax is likely to be deductible. However, if the contribution is to an unknown organization, there can be high chances of fraudulent activity coming under consideration. Therefore, one must be well aware before making any such contributions and especially when one is looking for tax deduction approaches.

2. One financial benefit of giving is that your contribution may be tax deductible.a. Trueb. False

2. One financial benefit of giving is that your contribution may be tax deductible.

a. True

b. False