Solutions to Make Better Decisions with Your Taxes and Money

How to Maximize Your Tax Deduction for Charitable Contributions

How to Maximize Your Tax Deduction for Charitable Contributions - TaxACT Blog

If you itemize deductions on your income tax return, the IRS allows you to write off the cash value of any contributions or donations that you make to tax-exempt organizations. This is an excellent way to lower your taxable income while giving back to your community or supporting an organization that shares your values. Examples […]

Understand These Tax Breaks When Buying a Home

Tax Breaks for Homeownership - TaxACT

Buying a home can help lower your tax bill. In fact, tax breaks for homeownership are a primary motivation for many people to buy their own home. To make sure you get the maximum benefit from your home purchase, however, it’s important to understand the potential tax benefits. Keep these tax considerations in mind when […]

To Itemize or Not to Itemize: 4 Questions to Ask Yourself

To Itemize or Not to Itemize: 4 Questions to Ask Yourself - TaxACT

Have you ever itemized your tax deductions? In 2009, almost two-thirds of tax filers claimed the standard deduction, which for married couples filing jointly, was $11,400. Those who itemized in that category, however, averaged a whopping $32,000 in deductions. While you may not personally enjoy an increase that large, it’s worth investigating. To itemize your […]

Weekly Favorites: Financial To-Dos, Donate to Charities, Credit Card for Holiday Purchases

Weekly Favorites December 3, 2012

Weekly Favorites: December 7, 2012 5 Financial To-Dos You Should Do in December by LearnVest Front of mind this year is the Fiscal Cliff…the new year could be a very expensive one for almost all of us. Continue reading… Donate to Charities to Decrease Taxable Income by  Ny-oka S. Beyond the personal satisfaction of donating to charitable […]

Donate to Charities to Decrease Taxable Income

How does donating affect my tax return?

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 […]