Today is the Perfect Day to Give Money to a Food Bank
Hi Friendos,
Today I’d like to share a selection of recent news from around the country:
- Atlanta, Georgia: “Atlanta Food Bank braces for surge as shutdown threatens SNAP, federal supply.” “[D]uring the last major shutdown in 2019, they saw how quickly the need increased. But now, he said, they’re starting from a much higher baseline level of need.”
- Stockton, California: “Adding to their concerns are recent cuts to U.S. Department of Agriculture support programs. Hansen said that it has already left the food bank’s shelves more bare than usual.”
- Washington D.C.: “DC-area food banks prepare for increased need amid government shutdown.” “‘When you’re in a place of financial strain, the line item in your budget that you can really squeeze is your food budget.’”
- Horry County, South Carolina: “Horry County food bank expects impacts from government shutdown.” “[T]he food bank also has other items that people or families may need, such as diapers.”
- Spokane, Washington: “Federal shutdown raises concerns for Spokane food banks.” “90+ percent of the food that we get in is privately donated so we’re reliant on whatever is donated to get it in and then get it back out.”
- Charlottesville, Virginia: “Blue Ridge Area Food Bank prepares for increased demand amid shutdown.” “‘There is a stigma about seeking out food,’ Sinclair said. ‘But I would also say that we are here to provide that food…You won’t be taking from anyone else. We have the resources right now to take care of the people who need it.’”
And in my city, visits to food pantries and soup kitchens are up 85% vs 2019. Wherever you live in the U.S., there are hungry kids and hungry adults living near you.
At a high level, the things you can do with money are spend it, save it, invest it, and give it away. If your regular budget has some wiggle room and does not currently include charitable donations, I’d like you to consider changing that. You could start with 1% of your after-tax income as a target amount. If you make a lot, give more!
Most people do not get any tax benefit from charitable donations, because most people do not itemize on their tax return. That said, last year I wrote about 5 strategies to make charitable donations in a tax-advantaged way. If your giving is at a higher level, consider if these strategies might be a fit for you. If you need help implementing one, get in touch and I’ll help you for free.
-Stephanie
Frequently Taxed Questions 