What you need to know about year-end charitable giving in 2017
Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give.
Charitable giving can be a powerful tax-saving strategy: Donations to qualified charities are generally fully deductible, and you have complete control over when and how much you give.
Tax planning is rarely easy, but this year it is especially difficult due to the potential for
sweeping tax reforms.
Various limits apply to most tax deductions, and one type of limit is a “floor,” which means expenses are deductible only if they exceed that floor
Tax reform has been a major topic of discussion in Washington, but it’s still unclear exactly what such legislation will include and whether it will be signed into law this year.
It’s summer, so you may understandably be tempted to forget all about your taxes when “the livin’ is easy,” as the Gershwin song goes. If you start your tax planning now, however, you may avoid an unpleasant tax surprise when you file next year.