MAXIMIZE YOUR TAX REFUND WITH CHARITABLE DONATIONS

Year-end giving can be a rewarding way to support causes you care, and they can also offer significant tax benefits. By donating to qualified nonprofits, you can potentially minimize your taxable income, leading to a heavier refund. It's essential to talk to a tax advisor to determine the best strategies for your position and ensure you optimize al

"That will help you minimize your taxable income," states Ed Slott, a CPA who educates monetary advisers on IRA and retirement setting up strategies. You can also declare a charitable deduction, assuming you are able to itemize within the year you donate. Generally, itemizers can deduct 20% to sixty% of their modified gross income for charitable d