Donuts and Tax Deductions: You Can Have Both on National Donut Day!

Tax Deductions and Credits

Today is National Donut Day, a day dedicated to complete indulgence. But before you take that first doughy bite, take some time to learn about the history of National Donut Day and how you can save money while giving thanks in honor of this sweet celebration—there’s more to it than you would think!

Donut Day was originally started by the Salvation Army during World War I, when volunteers served coffee and donuts in the trenches as a way to spread cheer and bring comfort to American soldiers.

Due to limited resources, donuts could only be fried seven at a time–until two Salvation Army officers conceived the idea of frying donuts in soldiers’ helmets! Since then, Donut Day has symbolized the support that the Salvation Army provided to our armed forces.

If you’d like to give thanks to the Salvation Army for all of their hard work (and for helping to create such a delicious holiday), you can help someone in need and save money on your taxes by making a tax-deductible donation at any time.

Once you’ve donated, be sure to capture your donations using TurboTax ItsDeductible which values and tracks your charitable contributions for tax-time savings.

And don’t forget to celebrate while saving more money! The following donut shops are giving away free treats today:

  • Dunkin Donuts
  • Krispy Kreme
  • Tim Hortons

Happy indulging!

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