Year-end contributions can offer a fantastic opportunity to assist causes you care about while also lowering your tax obligation. By submitting eligible donations to qualified charities, you can may lower your federal revenue. Consult with a specialist to understand the best tactics for your unique circumstances and maximize the tax benefits of cha

"That will allow you to decrease your taxable income," states Ed Slott, a CPA who educates economic advisers on IRA and retirement planning methods. You may also claim a charitable deduction, assuming it is possible to itemize while in the 12 months you donate. Tina Orem is undoubtedly an editor at NerdWallet. just before becoming an editor, she w