An estimated $373 billion was donated to charitable causes in the United States during 2015, according to the charity watchdog site, CharityNavigator.org. That’s a lot of money going to great causes…or so it would seem. The fact is, donating to charitable organizations is great for a number of reasons, but sometimes your contributions aren’t used […]
It’s easy to only think of taxes during tax season. However, anyone who is financially savvy knows making changes throughout the year can give you the best chance to make a difference in your tax bill. With more than a quarter of the year left, now is a great time to make small adjustments that […]
As this year’s presidential election season hums along, campaign contribution totals have well exceeded 800 million dollars – and they continue to rise. With this level of fundraising, one question is sure to come to mind – are political contributions tax deductible? The short answer? No.
You can spend a lot of time determining which tax deductions will benefit you most throughout the year – and usually, that’s time well spent. For example, if you’re in the 25 percent tax bracket, every dollar you find in deductions may save you close to 25 cents in taxes. Let’s take a look at […]
Are you asking for a receipt and itemizing your donations when donate to charities? You should be. Beyond the personal satisfaction of donating to charitable organizations, there could also be income tax benefits for your kind gestures. Generally, you can take a deduction for contributions of money or property that you make to a qualified […]
Can’t decide if you should have a garage sale to get rid of your excess stuff or just box it up and donate it? Not sure which option, in the end, will earn you the most money? There are a lot of people who enjoy taking a day to have a garage sale (or yard […]