We all know the old saying, “There’s nothing certain in this world except death and taxes.” Neither of these inevitabilities is anything to look forward to but if I had to choose, I’d pick taxes over death any day. On the other hand, sometimes paying taxes can cause a person to feel physically ill, so maybe there really is some connection between the two.
One year ago I offered some tips about how to avoid paying taxes. If you took my advice to heart, you are feeling better about April 15, 2006. Last year I mentioned several ways to considerably reduce your tax burden and yes, a few of those ways included giving away some of your hard-earned cash.
I can just imagine what you might be thinking: "So whether it goes to taxes or to charity, I still have to part with my money." Think about that for a minute. (tick tock, tick tock, tick tock) Okay, time is up. That remark reflects an indifference as to whether your money goes to the government or to a greatly needed successful charitable organization.
The government needs operating money and it has been generating revenue through taxation since the first income tax in the United States was voted into law in 1862. Back in “the good old days,” hardly anyone protested taxes because hardly anyone paid taxes. Of the 38 million U.S. citizens at that time, only some 277,000 actually filed tax returns and many who filed returns paid very little, if any, tax at all. We’ve come a long way since that day. Now the government can collect taxes from its citizens in some two dozen separate categories, none of which are “optional.”
I’m not trying to give the government a “bad rap.” I do, however, want to give successful charitable organizations a good boost. We are already supporting the government with the taxes we have to pay. With charitable contributions, we spread the wealth beyond government to worthy causes. Even the government encourages taxpayers to give generously to charities. Last September, the Katrina Tax Relief Act of 2005 was signed into law. The Act allowed taxpayers in 2005 to make tax-deductible contributions to charities in amounts equal to 100 percent of their adjusted gross income. Usually contributions of up to only 50 percent of a taxpayer’s adjusted gross income are deductible. However, given the devastation our nation suffered with Hurricanes Katrina and Rita, the government wanted to create an added incentive for people to assist the charities that are providing relief efforts. And so that other causes would not suffer as a result, they extended the deduction to contributions made to any qualified charity. Ask your tax advisor for more details. This legislation clearly indicates the government’s willingness to share the wealth.
The matter is best summed up with this question: Would you rather send your money to Washington, D.C., your state capitol or city hall or would you rather support charities that in turn help people just like you? Hundreds of health, education, social, family, youth and children’s charities are doing a great amount of good for a great many people with a small amount of money. Talk about “getting the most bang for your buck” – well, here it is, the Deafness Research Foundation (DRF)!
DRF has a stellar history which I invite you to read more about on the DRF Web site, www.drf.org. Like other great charities in America, we have seen our support levels change in response to redirected giving for recent disaster victims. Now more than ever, we need our long-time donors and brand new donors to come to the support of DRF.
You know the statistics: the most recent estimates are that 31 million Americans suffer from some form of hearing loss. Thinking about one person you know for whom hearing would make a difference – the ability to hear a child laugh, to hear an anthem, a poem – is enough to realize how vital hearing is to a full and satisfying life. We do not need more statistics to understand this – we already know it.
DRF has taken the lead in promoting hearing health in America through funding the cutting-edge research projects of hundreds of scientists – projects that led to some of the treatment we take for granted today and projects that will lead to the solutions for hearing and balance problems that are still disabling. These scientists have been and are able to do this great work due to your support.
We can feel good about what we have done so far. But let’s finish the job. Now is the time to reach for our checkbooks. I did and I believe that you will too, today!
Yes, taxes can be taxing. However, you can get some real “tax relief” knowing that your tax-deductible contributions are making hearing possible and the world a better – and far less taxing – place!
