LEHI, Utah — Americans do not hold back when it comes to opening up their hearts and wallets on Giving Tuesday.
According to GivingTuesday.org, 35 million people took part in the 2021 event. Americans donated $2.7 billion – 9% more than 2020.
A Lehi-based financial advisor is urging those who are able, to give.
“It’s become a worldwide movement,” Michael Stevens of Capital Wealth Advisors said about the day of giving that began in 2012. “It has blessed the lives of so many more people. The giver always gets the biggest gift.”
He urges those who plan to donate money to do research to make sure a charity is legitimate.
“The very first thing – do your due diligence and research the charity. There are great websites you can jump online and search,” he said. “If they are a 501(C)(3) – you can have religious, charitable, educational organizations that you can donate to and they will benefit from it.”
Those who donate can also take advantage of tax benefits.
People who give are advised to retain any receipts if they plan to write off a donation on their upcoming tax filings.
He adds people aged at least 70 years and six months-years-old can give directly from their IRA and the funds will not be taxed.
A donor-advised fund allows people to choose when and to whom their money is donated with donations spread out over time.
More resources to help individuals make smart donations can be found at retireutah.com.
Those who aren’t able to donate financial resources can give volunteer hours or goods.
A representative from the American Red Cross says one way to volunteer your time is by participating in a blood drive.
Whether it's organizing a drive or just donating to it, blood is in high demand during the holidays and every drop can help save a life.
