While there may be a lot of wisdom in the proverb “May your charity increase as much as your wealth,” there can also be wealth in properly planning your charitable giving. This wealth is derived from the economic benefit that can result from tax savings achieved by...
Spending a little bit of time thinking about your expenses for the year might lead to lower taxes. We often see taxpayers cheat themselves when it comes to the following: Medical expenses for themselves and their dependents. These are harder to deduct for federal...
I inherited my mother’s IRA and I’m required to begin taking required minimum distributions (RMDs) this year. Can I have the withdrawals transferred to a charity and not report them as income? Taxpayers are allowed to donate up to $100,000 ($200,000 for a couple) of...
