What are itemized deductions?Itemized deductions are a list of expenses that you can use to reduce taxable income on your federal income tax return. These include medical bills, taxes,...
The I.R.S requires that you report all taxable donations you make during the year and pay the appropriate tax. However, the average taxpayer never files a gift tax return or pays gift...
Posted by Unifirst Financial & Tax Consultants on 01/22/2021
If you're like most business owners who want to close the year and prepare taxes this month, there are several holiday expenses that you can deduct that can save you thousands...
Posted by Karen Munoz, EA on 12/15/2020
Whether you’re a business owner or an individual, donating to charity makes you feel good. You like helping others and making a difference. Of course, it doesn’t hurt that...
Making charitable donations is one way to reduce taxes. Donations can be used as tax deductions for taxpayers who choose to itemize deductions instead of taking the standard deduction....
Posted by Lone Star Tax Group on 12/20/2017
Helping out others is a great and noble cause to work on. You recognize that others just don’t have all the benefits that you do and you want to help them out. Or maybe you just...
Posted by Rincon Controller and Tax Services on 03/19/2016
ASU-Account Services Unlimited LLC in Rolla, MO reveals that most people have not realized the extent of relief giving for charity could bring to their taxable incomes. In fact,...
Posted by Felecia Dixson, EA, ATA on 01/22/2016
Contributions and donations given to a charity are tax deductible expenses. One of the perks to donate to a qualified charitable organization is that you not only get to help your...
Posted by ERNIE BUSTAMANTE on 01/16/2016
