BOOST YOUR TAX REFUND WITH CHARITABLE DONATIONS

Year-end philanthropic acts can be a rewarding way to support causes you believe in, and they can also offer significant tax benefits. By donating to qualified nonprofits, you can potentially minimize your taxable income, leading to a bigger return. It's essential to consult a tax expert to understand the best strategies for your situation and ensu

"That will help you decrease your taxable income," states Ed Slott, a CPA who educates money advisers on IRA and retirement setting up tactics. You can even claim a charitable deduction, assuming you'll be able to itemize within the yr you donate. usually, itemizers can deduct 20% to sixty% in their modified gross income for charitable donations.