Paycheck Deductions for charity

Like most workers at really large companies, I was given the option to have a percentage of my salary donated to charity on a pretax basis. I wasn't able to give much once I did my budget, but it totals around $200. I am not really super concerned about achieving personal benefit from this donation, but if both The Boys & Girls club and myself can get something from it, then that would be nice.

Is there any way that I could make a tax savings on this as well. Or is it already enough that its pre-tax and lowers my taxable income. I've always taken the standard deductions so I would have to switch to itemized. And there are most likely not enough other deductions to balance the standard deduction. What are your opinions. Is there way to make this donation work for me as well as for them, or should I just rest in the fact that I am doing a little good.

Thanks,
Nick

Njones4213,

You are not paying tax on your pretax donation.

If you were to claim this again by itemizing your deductions on Schedule A, that would be the same as claiming your state income taxes twice on Schedule A.

If your other legitimate itemized deductions are close to being over your standard deduction, then you may want to stop the pretax donation, and make the donation in cash from your check book. That way you may be able to have a larger deduction using the itemized deduction route.

Your pretax donation is already working for you.

Wow. I can't believe I asked that question. That must have been the end of a long day or something. I appreciate you getting back to me though. Of course I'm not going to get a tax savings on something I don't pay taxes on. :D

Thanks,
Nick