Natural disasters such as earthquakes can wreak havoc on the lives of people and properties. The trauma that they bring can last for a long time but thanks…
A scared dog named “Theo” was rescued after a year of living on the streets of Los Angeles. The images of Theo, from the Mutt Scouts website, shows…
If you’re self-employed, it’s common to struggle with finances, especially when quarterly taxes come due. Maybe you look at your bank account and wonder where that money is going to come from. You might even consider seeking a loan or borrowing money from friends or family. But what if you could reduce your financial difficulties by doing good works?
Donating directly to charity or even offering pro bono services are good ways for financially strapped individuals to both reduce their tax burden and give back to their community. If you’re considering this course of action, here’s what you need to know.
Know The Tax Schedule
Self-employment taxes are typically paid quarterly, based on estimated income. This can make it harder to balance your charitable deductions, but there are ways to make it work. Try to get a sense of your financial outlook and how much you need to reduce your tax burden by. Then, if you’re having a good quarter, donate a larger portion at that time.
Many self-employed individuals find it harder to afford their quarterly taxes later in the year, so try to make larger donations during the first half of the year. This will reduce your year-long tax burden while taking advantage of your current financial balance.
Individuals are the only ones that spend time doing volunteer work, or donating to charities. Businesses sometimes have a hand in such things as well. In fact, often charities will specifically contact businesses asking for donations of time and or money.
Individuals that donate to charities can use that monetary donation to save some money when tax time rolls around. But what about businesses? Cab donating your time and money save your business some money when it comes to tax time? It’s a possibility, and being a little giving could even save you from bankruptcy. Read More
Natural disasters such as earthquakes can wreak havoc on the lives of people and properties. The trauma that they bring can last for a long time but thanks to humanitarian efforts, victims of these disasters get their much needed financial help and emotional support. With charities lending a helping hand, people were able to rebuild their lives.
Last year, Nepal suffered greatly from two major quakes that affected its more than eight million citizens. This April, two more countries were shaken by deadly earthquakes, Japan and Ecuador prompting charitable institutions from the different parts of the world to take action. Read More
Road accidents occur in the millions worldwide each year. Many of them take place due to negligence and other mechanical factors.
The World Health Organization (WHO) has noted that in 2013 alone, road mishaps claimed the lives of 1.25 million people around the world and low-income countries had the highest road traffic fatality rates. Nearly half of all deaths involved people with the least protection such as pedestrians, cyclists and motorcyclists. Read More
Different types of people are passionate about giving to charity. Some are the wealthy philantrophists while the others are the average working people who have a big heart to give to causes they value.
In certain countries, however, they follow a tradition that encourages their citizens to regularly give a portion of their income or monetary gifts they receive to charitable organizations.
Cambodia is still struggling to regain its footing after years of warfare and harsh regimes. The country is making great strides but one area it falls short in is women’s rights. A study conducted by ADHOC Cambodia in 2012 revealed how far behind the country is in protecting and promoting women. Women in Cambodia as subjected to abuses with little legal recourse available to them. Although women were granted an equal rights status during the 1990s, they are still considered lesser in Cambodian society. Domestic abuse, human trafficking, and sexual violence are daily realities for women living in Cambodia. Read More