If you’re concerned about your 2021 tax liability, consider these year-end tax planning strategies.
Tag: charitable giving
There’s currently a “stepped-up basis” if you inherit property — but will it last?
Have you inherited assets or are you planning your estate? If so, it’s crucial to understand the current “step-up” basis rules and why they might change.
Arizona Tax Credit Alert 2021
Read the latest update regarding the extended charitable giving incentives for Arizona taxpayers
Donating your stimulus check: How to make a tax-deductible donation
Stimulus checks are already arriving in mailboxes and bank accounts, but not everyone who receives a stimulus check needs the money. Part of the recent CARES Act, these stimulus checks include $1,200 for single filers or $2,400 for joint filers, plus $500 for each dependent child under age 17. The amount of the payment is[ … ]
Can you deduct charitable gifts on your tax return?
You may assume that if you make a charitable contribution to an eligible organization, you’ll receive a tax break for it. That may not be the case anymore. Here’s why.
Protect your deduction: Verify before you donate
Verify that a charity is eligible to receive tax-deductible contributions before you donate Donations to qualified charities are generally fully deductible, and they may be the easiest deductible expense to time to your tax advantage. After all, you control exactly when and how much you give. But before you donate, it’s critical to make sure[ … ]
