The recent passage of the federal tax overhaul, regardless of one's opinion about who is helped or harmed by it, has added some additional fuel for your financial fire as 2017 draws to a close.
Many folks find themselves deciding about ways to possibly save on their taxes for the year during the last week before New Year's. With the advent of new tax rates and brackets coming for 2018, it seems sensible to weigh the value of making more charitable donations before it might be too late.
Donations made by the end of the year, of course, are applicable to this year's taxes--before the new rules take effect. Donations after December 31 will not be deductible until April 2019. Yes, they will be deductible, but could provide more value if taken before the possibly lower tax rates affect one's bottom line, i.e. during 2017.
Additionally, since the personal or married deductions are being raised significantly, it is likely more taxpayers will find themselves no longer qualifying to itemize deductions, which is how charitable donations can help lower tax bills.
Thus, there are some sound financial reasons to consider trying to afford additional charitable donations before the year runs out. The foregoing indicates a few possible outcomes.
But There Are Other Very Good Reasons As Well
Winter is now howling across the prairie on the Pine Ridge Reservation. The high today is forecast to be 10 degrees Fahrenheit and below freezing for the rest of the week. Desperately poor, but proud Lakota families are again struggling to make ends meet as fuel costs rise and food is scarce.
Despite the ongoing generosity of our One Spirit donor family, even considering the successes of the past year such as the One Spirit Charging Buffalo Facility, we are still just one blizzard away from a potential crisis. Funds are still needed to provide wood and other fuel to protect Lakota children from the frosts of winter on the plains. Additional donations can also help provide more nutritional food to more of the Oyate who are in need. There is an ongoing need for more warm clothing and bedding.
While One Spirit makes careful and conscientious use of the donations made by our wonderful supporters, both in terms of money and in-kind donations, the need is so great that we are always at wit's end seeking ways to do more. The Oglala Lakota are doing their level best to find ways to become ever more self-sufficient while honoring their cultural heritage, and we are doing whatever we can to aid this noble cause.
With that in mind, and with the additional aspect of the looming change in the tax code, we are again asking our loyal and generous supporters to take a moment and consider an additional year-end donation to One Spirit. Not only will it provide immediate tax relief to the donor, it will importantly provide immediate humanitarian help for the people who need it the most. We guarantee every penny will be used wisely to do the greatest good for the Lakota, and you can ring out the old year secure in the knowledge that your kindness is doing great things.
Win-Win And Great Humanitarian Achievement
That is surely a win-win situation: helping your tax situation by doing a wonderfully generous kindness to people who already thank you. We at One Spirit join the Oglala Lakota in wishing you the best for 2018 and beyond, and add our gratitude.
"When the story of these times gets written, we want it to say that we did all we could, and it was more than anyone could have imagined."