Last Minute Tax Tips

We are in the final stretch of tax season with two days to go before the deadline for individuals to file their tax returns. If you haven’t filed yet, you have plenty of company. According to the IRS, the week of April 15 is the busiest week of the year for tax filings. Over 20% of taxpayers haven’t filed by this time – 13% will go ahead and file their return before April … [Read more...]

Rules on Charitable Contributions from the IRS

The IRS outlines the ins and outs of deducting charitable contributions in their Publication 526, Charitable Contributions. Here are excerpts to guide you in deducting your charitable contributions. Go to IRS Publication 526 for all the details. Organizations That Qualify To Receive Deductible Contributions You can deduct your contributions only if you make them to … [Read more...]

Charitable contributions may help lower your tax bill

You can take steps now that can lower your 2014 taxes by making charitable contributions before the end of the year. If you plan to give to charity, consider donating by December 31. Then you can claim your contribution as an itemized deduction for 2014. To get a tax deduction, you must give to a qualified organization. You cannot take a deduction for contributions … [Read more...]

Tax Deductions for Charitable Contributions

IRS Tax Tip #10 from Carpenter, Evert and Associates – Deducting Charitable Contributions IRS Tips on Deducting Charitable Contributions - If you are looking for a tax deduction, making a charitable contribution can be a ‘win-win’ situation. It’s good for them and good for you. Here are eight things you should know about deducting your charitable contributions: You … [Read more...]