Our friends contribute to the American Red to further this important work, but having decided to make a gift, it's wise to plan for maximum tax benefits. Frequently, you'll be able to make a larger gift than you originally imagined. If you itemize, you may claim a charitable contribution deduction on your federal income tax return for donations to the Red Cross. That reduces the actual cost of your gift. But charitable gifts, large or small, are completely exempt from federal taxation.
Most states give similar benefits.
Will Many of our supporters make charitable gifts by bequests in their wills so that the work of the American Red Cross can continue. The federal government encourages those gifts by allowing an unlimited estate tax charitable deduction. You can also make a gift to benefit both your local chapter and the national sector. Childless couples sometimes provide for the entire estate to go to the surviving spouse, but if the spouse doesn't survive, to the Red Cross. Life Income Gifts Family obligations and the need to provide for retirement, coupled with the high cost of living, make it difficult for many people to consider substantial charitable gifts now, so they wait to make gifts by will.