The holidays are typically the season of giving, but how has the economy impacted charitable giving? A weak economy has many people feeling more cautious than ever. As a result, 7 out of 10 of us (68%) will be “giving”...
Remember the joy you felt as a kid when you received a toy during the holidays? At TurboTax, we have fond memories of unwrapping our Easy-Bake Ovens, Nintendo Game Boys, Barbies, you name it. We want to ensure every child...
The Internal Revenue Code does not limit the number of deductible charitable donations you can make in a single tax year. The same rules apply whether you donate one car or 500 cars. However, you must ensure that you satisfy all requirements for each separate vehicle donation.
In the springtime a person’s thoughts turn to — spring cleaning! Know what else you can do aside from free up space? You could free up tax dollars too and get cash back in your pocket with charitable deductions you find around the house.
The holidays are an unmistakable reminder to maximize end-of-year tax deductions. And if you can help brighten a child’s holiday at the same time, well, what’s better than that? By donating toys to charities this holiday season, you have the opportunity to do just that. Provided you itemize your deductions, toy donations to the following organizations (and many more) can be written off on your 2010 tax return.
As we’ve been reminding you, there are many things you can do to before the end of the year to minimize your tax burden. Charitable donations made before Dec. 31 are another easy way to lower your tax bill and give back to the community. Here are five tips to help you get started now.
The holiday season is fast upon us. Just as it’s easy to overeat during the holidays, it’s easy to overspend, especially if you buy on credit. People spend about 15 percent more on purchases paid with a credit card. Here are seven holiday money tips for couples.