Earn Points and Miles for Donating to Charity – Triple Dip Everytime!
‘Tis the season for giving. ‘Tis also the season to make sure you have all of your tax deductions in order. So what’s the Triple Dip?
#1 Tax Write-offs
Here are the IRS guidelines for charitable donation tax deductions. Depending on your tax bracket, you could write off 30%+ of your donation. That’s like Uncle Sam giving you 1/3 of those points to you for free. I like it. Personally, I only file for less than $500 in donations to avoid the paperwork.
#2 Points or Miles
Listed are some current offerings for hotels and airlines that qualify for the tax write offs.
Hilton HHonors 10 points per $1 – Donate to Hilton HHonors Disaster Relief Efforts
Delta Skymiles, American AAdvantage, or United MileagePlus 10 miles per $1 – Donate to Cancer Research (scroll to middle of page)
Update: Earn 15 American AAdvantage miles per dollar now through November 11th for donations to the USO!
#3 Credit – Debit Rewards
When you donate, make sure you are using a credit card or debit card that will either match your contribution, or give you rewards. Here are the stand outs for donating to charities:
Chase Freedom® Visa - 5% Cash Back on up to $1,500 spent on dining, department stores, movie theaters and charitable organizations from 10/1/11 – 12/31/11. Plus a $200 sign up bonus if you apply now.
PerkStreet FinancialSM Debit MasterCard – 2% cash back debit card. Plus, this holiday season you’ll rack up even more cash with 5% cash back in popular categories.