If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to consider a tax-saving strategy. It involves making a qualified charitable distribution (QCD).
Continue Reading: Certain charitable donations allow you to avoid taxable IRA withdrawals
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if you don’t receive such a letter, can you still claim a deduction for the gift on your 2023 income tax return? It depends.
Continue Reading: If you gave to charity in 2023, check to see that you have substantiation
If you’re concerned about your 2023 tax bill, there may still be time to reduce it. Here are four quick strategies that may help you trim your taxes before year end.
Continue Reading: 4 ideas that may help reduce your 2023 tax bill
If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax rules may come into play in connection with such contributions.
Continue Reading: The tax rules for donating artwork to charity
Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next.
Continue Reading: Year-end tax planning ideas for individuals