Financial Literacy

Money: Taxes and Charitable Donations

Rodney Brooks
November 24, 2023

Tax and finance experts list ways to give to charities and cut your tax bills at the same time, ahead of Giving Tuesday November 28. 

Americans gave nearly $500 billion in 2022, most of it ($319 billion) from individuals. That’s a slight decline from the previous year, but still a hefty chunk of money!

So, as we approach the end of another year, it’s a good time to think about taxes, and how to pay less.

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Authored By Rodney A. Brooks

TRAFOTFBThe author tells the history of the Freedman’s Savings Bank, how it grew much too quickly, why it failed and the impact on Black America. The Freedman’s Bank offered a safe depository for formerly enslaved people, expanded quickly and gained millions in deposits – mostly ranging from $5 to $50. But inexperience and corruption doomed it to failure, costing may of the small depositors their savings.

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“Rodney A. Brooks’ ‘Fixing the Racial Wealth Gap’ is one of the best written and most prescriptive books I’ve read on this prickly subject. Using powerful stats, stories and insightful wisdom, it is written from the heart, mind, body and spirit … plus years of research and thought as a mainstream journalist, Fixing the Racial Wealth Gap is revealing, humorous, instructive and sobering.” – Dr. George C. Fraser

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