In the case of non-cash charitable gifts you need to be careful not to fall into several tax traps that may limit your deduction.
Sometimes Congress actually gets something right! This happens so rarely that I wanted to write a special blog post on it. Clients who have followed our advice over the years tend to retire with no mortgage debt and few out-of-pocket medical expenses. This leaves their charitable contributions as the main source of itemized deductions to…charitable donation, donation, QCD, required distribution, RMD
Is there a way to deduct a political donation? The answer may surprise you. More than most tax questions, the answer to this one really is – “It depends.” It depends upon whether the donation was given to: a social welfare group, a trade association, a PAC, a so-called Super PAC, or…donation, political, political donation