Charitable Contributions and Deductions

Virtual Wedding? Deduct Your Wedding Dress on Your Taxes!

May 28, 2020 June 4, 2020 / TurboTaxBlogTeam

Weddings can be an expensive endeavor, but in this time of social distancing, opting for a virtual wedding could end up saving you a fortune at tax-time! Have you considered hosting a virtual wedding? If you’re on the fence about...

Full Story

Home

Life Events Series: How Will Buying My First House Help My Taxes?

February 18, 2020 / TurboTaxBlogTeam

A great milestone of your financial life is the purchase of your first home. While less exciting, the tax implications of that achievement are no less critical. After all, home ownership creates several new opportunities for you to save on your federal income taxes. Got your attention?

Full Story

Tax Deductions and Credits

Give the Gift of Charitable Donations on Giving Tuesday

December 3, 2019 / Elle Martinez

According to the National Retail Federation, close to 190 million people shopped from Thanksgiving through Cyber Monday this year, an increase of 14% over last year. For many, it was to pick up gifts for either themselves or their loved...

Full Story

Self-Employed

Self Employed – Small Business Saturday and Giving Back

November 30, 2019 / Jim Wang

As we enter the season of giving, you may see a lot of stores and companies giving back to the community. Some may donate a portion of sales to a charity, and others may donate their products or services to...

Full Story

Tax Reform

I’m Donating to Charity This Winter, Will I Still Get a Deduction?

November 5, 2019 / TurboTaxLisa

The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020). If you plan to donate to a charity before year-end, you may be wondering how the new...

Full Story

Tax Deductions and Credits

Breast Cancer Awareness Month: Donations and Tax Deductions

October 3, 2019 / Elle Martinez

October is Breast Cancer Awareness month. Breast cancer is the most common cancer among women in America, so getting involved in the effort to fight breast cancer can have a tremendous impact. You can help the community by teaching others...

Full Story

Tax Planning

Financial Planning Month: Tax Edition

October 1, 2019 / Ginita Wall, CPA, CFP®

The article below is up to date based on the latest tax laws. It is accurate for your 2019 taxes (filed in 2020) and 2018 taxes, which should be filed by the April 15th, 2019 (or October 15th, 2019 with...

Full Story

Self-Employed

Tax Tips for Coaches

July 9, 2019 July 23, 2019 / Jim Wang

Almost every kid played some type of sport while growing up. From basketball games to dance practice, sports can be a big part of a kid’s childhood and for most of those kids, receive instruction every week from a coach....

Full Story

Tax Reform

Can I Get a Tax Break for Supporting My Alma Mater’s Football Team?

September 12, 2018 March 5, 2020 / Jim Wang

Previously, if you made a donation to a university that gave you the right to buy tickets to a sporting event, sometimes known as personal seat licenses (PSL), you could deduct 80% of that donation from your taxes. If you...

Full Story

Income and Investments