How to Lower Your Tax Bill With the Charitable-Donation Deduction: Getting a tax break for contributions to charity often requires careful planning

By dreed5n834 | March 8, 2024 |

Are fewer taxpayers deducting charitable contributions than in the past? Yes. The 2017 tax overhaul dramatically reduced the number of filers deducting charitable donations. While it didn’t limit them outright, it expanded the standard deduction so that far fewer taxpayers itemize these deductions on Schedule A. The number of taxpayers itemizing charitable donations dropped to…

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Thinking About Donating Your Stock to Charity?: Doing so is a powerful tax strategy to optimize your charitable giving

By dreed5n834 | December 1, 2023 |

For investors seeking to support charitable causes while maximizing their tax benefits, donating stock instead of cash can provide significant advantages. By contributing appreciated securities to a qualified charity, investors can potentially deduct the full fair market value of the donated stock on their federal income tax return. Here are a few reasons why donating…

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