Our community chose "Save the Children" charity to donate to a few days ago, since then we donated 30 Eth which was sold for $120,000.
Currently Munch Community is donating to Manny Pacquiao Foundation
Save the Children made a very very good article which answers a lot of questions for all investors.
One of the most asked question was:
Is my cryptocurrency holiday charitable donation tax deductible?
Yes, your cryptocurrency donation is tax deductible!* Save the Children offers supporters who want to donate cryptocurrency to charity the ability to give in a tax-efficient way. The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax-deductible. Your contribution is tax-deductible to the fullest extent permitted by law. For example, for donors in the United States, the IRS has classified bitcoin as property for tax purposes. This means that when someone donates bitcoin and other cryptocurrencies to a 501(c)(3) nonprofit like Save the Children, donors do not have to pay capital gains tax and it is tax-deductible if you provide your email address.
*Please consult your tax advisor. You can donate anonymously but you will not receive a tax receipt unless you provide at least your email address.
What is "Save the Children" saying about us?
First things first as a community we are very happy that we have been able to help a great cause such as Save the Children. We are delighted to be mentioned and appreciated for the vision and achievements that we have managed to get so far.
So far we have donated more that 1000 ETH and this is just the beginning. Munch is constantly creating new partnerships and ways to help.