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Heat wave calls for cool charitable gifts

July 7, 2010

I really feel for the folks in the Northeast who are in the grips of an historic heat wave. Record temperatures are being hit all across the region and power grids are near the breaking point. 

Here in Central Texas, we dealt with a similar weather pattern last year. The persistent high pressure system produced triple-digit thermometer readings throughout last summer, making June through August 2009 our hottest season on record.

Here's hoping that this current NE heat wave isn't as tenacious as ours was and that my friends and family up there in that corner of the country won't have to suffer through 100-plus readings for much longer.

But even when things cool down, relatively speaking, typical summer days are uncomfortable, and sometimes downright deadly, for folks who aren't prepared.

That's why I'm thrilled to see programs like Austin Family Eldercare's fan drive.

Fan_dog_charity Now in its 20th year, the annual summer fan drive distributes cooling devices to low-income elders, adults with disabilities and families with children. Since its inception, the program has provided more than 55,000 fans and 700 air conditioners to more than 25,000 households.

I bet your community has something similar.

Even if it doesn't, there probably are nonprofit groups that open their doors during the hot days so that folks without air conditioning or fans can come into some welcome cool air.

If you've got a few bucks to spare, I urge you to direct it now to charitable groups that are helping folks literally survive this heat.

And while I know it's not why you'll donate a fan or money, remember that you might be able to claim a tax deduction for your cool charitable gift.

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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