Final answer:
True
Donations made to qualified non-profit organizations are typically tax-deductible and can lower the donor's taxable income; however, there are limits and conditions that must be met for the donation to be deductible.
Step-by-step explanation:
Giving to a non-profit organization can indeed help to lower your taxable income. This is true because donations made to qualified non-profit organizations are generally tax-deductible for the donor, as long as the donor itemizes their deductions on their tax return. However, there are limits on how much you can deduct, and not all contributions to non-profits are tax-deductible. It's important to make sure that the non-profit organization is recognized by the IRS as a tax-exempt entity. Non-profit organizations are set up for various purposes such as charitable, religious, or educational and have the key advantage of no tax liability, which allows them to focus all their resources on supporting their cause.