5 Things You Should Know About Charitable Donations and Taxes

Link to full article at MotleyFool.com

Many people focus on giving near the turn of the year. In addition to the holiday spending onslaught that starts with Black Friday sales events at shopping malls and online, the end of the year is also a popular time to make donations to charitable organizations. Not only do charities ramp up their fundraising efforts late in the year, but it's also the last chance to get potential tax benefits from charitable giving.

The laws governing charitable donations and taxes are somewhat complicated, and tax reform made some changes that will have an impact on those seeking to write off their charitable gifts. Below, we'll look at five things you really need to know in order to make your donations go as far as they possibly can -- both for the charity and for your own personal finances.