DiSabatino CPA Blog

DiSabatino CPA Blog

A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

If you donated money to charity, you'll need these records

If you donated money to charity, you'll need these records

If you plan on deducting charitable contributions on your 2017 tax return, you'll need to have certain records.

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November 2017 DiSabatino, CPA Newsletter

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November 2017

In this Issue:

  • Year-End Tax Checklist
  • Six Must-Dos When You Donate to Charity 
  • The Equifax Breach and You: Be Proactive
  • Five Great Banking Tips
  • Holiday Shopping Survival Guide 

This Month:

  • Saturday, Nov. 11th: Veterans Day
  • Thursday, Nov. 23rd: Thanksgiving
  • Friday, Nov. 24th: Black Friday (shopping sale day)
  • Monday, Nov. 27th: Cyber Monday (online shopping sale day)
  • Tuesday, Nov. 28th: #GivingTuesday (charitable giving day)
  • Reminder: Conduct year-end tax and financial planning

Now is a good time to review your year-end tax situation while there is still time to act. This newsletter begins with a handy checklist to help you do that. There are details on "must-dos" to get the most out of your charitable donations.

Also inside: personal finance articles on how to protect your credit in the wake of the Equifax security breach earlier this year, as well as how to get the best experience from your bank. Finally, check out the survival guide for the upcoming Black Friday and Cyber Monday shopping days.

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There are tax breaks when you do charitable work

 

There are tax breaks when you do charitable work

If you do volunteer work for a charitable organization and have not kept track of your out-of-pocket expenses, you might be passing up an excellent opportunity to lower your tax bill. To qualify, your unreimbursed expenses must relate directly to the charity, and you must itemize your deductions on your tax return. Here is a brief rundown of some possible deductions.

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