You want to do a nice thing and donate your business vehicle to charity. You also want to get a hefty tax deduction for making the donation. Well, be careful! The laws that govern such transactions are tough and you’d better do some calculations before you hand over the keys. We’ll tell you how to avoid trouble before it starts when you read my new article titled Tax … [Read more...]
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Tax tips for using your frequent flyer miles, hotel points, and credit card rewards
I’ll bet you’ve been building up quite a stash. I’m talking about all the frequent flyer miles, hotel reward points, and credit-card cash rewards you’ve accumulated. The important question here is, what are the tax implications of using all these rewards? Should they be treated as income? Are they taxable? Are they deductible? You’ll get straight answers when you read … [Read more...]
Six ways to make your IRA work for charities
Are you 70 ½? Do you have an IRA? Do you want to help your church, school, and favorite charities and save money? Then read my new article titled Tax Tips: Age 70 1/2 or Older? Make Your IRA Donate Directly to Charity The Challenge: Sure. Your IRA is a great way to save for retirement. But when you hit 70 ½, you’re going to have to start taking money out of your IRA … [Read more...]
7 year-end stock-portfolio tax strategies
2015 is coming to an end very soon, which means now is the time to turn your stock-market portfolio into a powerful tax-cutting machine. But don’t wait! If you want to save money (and who doesn’t), don’t miss our information-packed article titled Tax Tips: 2015 Last-Minute Year-End Tax Strategies for Your Stock Portfolio. Five ways our fact-filled article can help … [Read more...]
Avoid tax traps when you donate clothing and household items to charity!
Got a garage full of junk? Got closets filled with clothes you’ll never wear? Here’s your chance to do some good and do well. You see, you can pay less tax this year by donating clothing and household items to charities that can really use it. And when you know how to give the right way, you can claim some nice non-cash deductions that will save you money. So… if you … [Read more...]