By Rebecca Marshall
Today’s the day we’re encouraged to think about someone else. We call it “Giving Tuesday”.
Last year, Americans donated $427 Billion to charity on this day, but it’s important to realize not all charities are created equal.
Our CBS Business Analyst Jill Schlesinger says it is best to know who you are working with. Familiar charities are a safe bet, but if you want to see if a charity is legit, you should go to IRS.GOV or BBB.ORG
Some companies will use a key word like “cancer” in their name to trick you into donating, but they are fake companies. No one should pressure you to donate. If they do, walk away.
Schlesinger also says CharityNavigator.org can also help you learn more about your charity of choice.
Schlesinger also reminds us not to go crazy with donations just for a tax benefit. The tax law has changed and it may affect how you itemize your donations. So–Do your homework.
Read more from Jill Schlesinger: