SEATTLE'S MORNING NEWS

Colleen: What does charitable giving mean for your taxes?

Nov 29, 2023, 12:30 PM | Updated: 1:55 pm

IRS taxes...

A sign hangs outside the Internal Revenue Service building in Washington, DC. (AP Photo/Patrick Semansky, File)

(AP Photo/Patrick Semansky, File)

This week, with the giving season upon us, we discussed charitable giving. What does it mean for our taxes? And has anything changed in the tax code this year? For those answers, we turn to CBS Business Analyst Jill Schlesinger.

“In order to get any deduction from your charitable giving you have to be an itemizer,” Jill told us.

Listen below to the full interview:

What I appreciate about being able to talk to Jill every Monday for Seattle’s Morning News is that she can boil down any complicated financial or economic story into the most important elements. She can also explain complicated financial topics in easy-to-understand terms.

Jill also wanted to warn about scams, which run rampant turning the season of giving. Fake charities — with names very similar to legitimate charities — will try to solicit donations. You can go to IRS.gov to find the Tax Exempt Organization search tool to find out if the charity you’re about to give to is actually a charity.

Listen to Seattle’s Morning News with Dave Ross and Colleen O’Brien weekday mornings from 5 – 9 a.m. on KIRO Newsradio, 97.3 FM. Subscribe to the podcast here.

Seattle's Morning News

...

MyNorthwest Video

Video: One Step Forward, Two Steps Back

Travis Mayfield joined the Seattle Morning today! He talks about how Greece now recognizes same-sex marriage (the first orthodox nation to do so). On the flip side, here in the U.S., Tennesse passed a bill that allows officiants to refuse to marry people of the same sex if they’re morally opposed to same-sex marriage. Listen […]

5 days ago

A teacher working with a fourth grade class. (Photo By Harold Hoch/MediaNews Group/Reading Eagle vi...

Travis Mayfield, KIRO Newsradio

Mayfield: What has Seattle elementary students embracing such weighty fiction?

Each year since 1995 the library in our city has been organizing something called the Global Reading Challenge. 

5 days ago

seafood fraud...

Colleen O'Brien

Colleen O’Brien: Seafood fraud, what is it and how to avoid it

For example, one of the most common kinds of seafood misrepresented is white fish. Red snapper, a higher-priced fish, is often just tilapia.

5 days ago

...

MyNorthwest Video

Video: Why Are Millennials Moving to Seattle?

Generation X is leaving Seattle, but Millennials are moving in. Micki Gamez and David Burbank join Seattle Morning News and break down why this is happening.

5 days ago

...

MyNorthwest Video

Video: What Not To Do On Valentines Day!

Gee Scott has a PhD in romance and gives us tips on what not to do for Valentine’s Day. Listen to KIRO Newsradio 97.3fm or go to MyNorthwest.com to learn more!

6 days ago

dos don'ts valentines day...

Frank Sumrall

Gee Scott: 8 dos and don’ts of Valentines Day

Seattle's Morning News called upon its relationship consultant, with a Ph.D. in romance, KIRO Newsradio host Gee Scott to advise the younger couples.

7 days ago

Colleen: What does charitable giving mean for your taxes?