Reduce your Taxes by Donating Bitcoin to Charity
Did you know that you can generate a tax deduction for the market value of your Bitcoin if you donate it to a charitable organization? It is considered a charitable contribution and you don't have to pay taxes on the appreciation! You must donate it directly to the charity without selling it first, otherwise you will have to pay capital gains taxes on the sale.
For example, if you bought Bitcoin for $1,000 and it appreciates to $10,000, you can donate the $10,000 as a charitable deduction and not have to pay capital gains on the $9,000 appreciation in value.
So you've decided that you want to go the charitable donation route; where can you actually donate Bitcoin to?
Fortunately, the BitcoinWiki has a handy list:
Art
Blendernation
Project gooseberry
Entertainment
XKCD
Heaven Sent Gaming
NGOs
Jaunimo linija
Krizių įveikimo centras
Fundraising "Children and Food"
Omni Nano
War Child Canada
Open source
arkOS awesome WM Apache Foundation Backbox Bluetile WM Cryptocat Dia Dokuwiki Dosbox Duplicati Etherpad F-Droid GIMP Gource FarmBot FreeBSD FreeHAL Freenet Haiku OS Libre.fm LibreOffice Linux Mint Loomio Mediagobblin Megaglest MuseScore OpenELEC opengameart.org OpenStreetMap OsmAnd Piwik TOR TOR chat TOR servers Piratelinux RaspBMC Replicant VideoLAN Wikispead Yacy
Foundations
archive.org Bitcoin Foundation Blender Foundation citizenweb Electronic Frontier Foundation (EFF) Freedombox Foundation Freedom of the press Foundation Free Network Foundation (FNF) Free Software Foundation (FSF) Fundación Bitcoin Colombia Gnome Foundation Mozilla Foundation ReactOS Foundation RU4ME Pet Rescue, Inc Wikimedia Foundation BitHope Foundation
Activism
FreeSnowden Sea Shepherd Sigil Social Foundation The pirate bay Students for Life @ University of Arizona (SFL@UA) Jindal Centre for Social Innovation & Entrepreneurship
netzpolitik.org riseup.net Wikileaks
Religion
Shoreline Unitarian Universalist Church
Originally published at https://getcryptotax.com on April 11, 2018.