Tax Savings through Crypto Donations
Why Donate Crypto Directly? Taxes!
There’s a reason high net worth individuals tend to donate property instead of cash. Donating cryptocurrency directly to a 501c3 nonprofit is more tax efficient and can save you money.
The IRS classifies cryptocurrency as property for tax purposes which means it is typically the most tax efficient way to support your favorite cause. When donating crypto, You receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more on your tax return.
The difference? Sometimes more than 30%.
If you provide an email, you will automatically receive a tax receipt after donating.
Why Donate Crypto Currencies to Us?
Local charities often have much smaller budgets than larger national charities. This means that when you make a donation, it can make a bigger impact. And it’s likely that you’ll be able to see where that money is going. At 4MyCiTy®, we focus on improving food insecurity through food rescue. On a daily basis we divert an average of 115,000 pounds of good healthy foods to families in need that would have otherwise gone to waste. That's an estimated 95,000 meals served daily.
Which cryptocurrencies does 4MyCiTy® accept?
You can donate Most of your favorite Crypto currencies to 4MyCiTy®
Clink on the Drop Down menu on the donate tab above and select your favorite.
Need more info on why you should donate cryptocurrency?
