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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Michael DiSabatino of Sharp CFO™ offers expert insights to help you unlock your business's full potential by delivering proven strategies for maximizing tax savings, streamlining operations, and driving sustainable growth.
Tips to Maximize Car Donations
A little mistake could cost you plenty.
One of the biggest contributions a taxpayer can make is to donate a used automobile. But if not careful, the value of a donated vehicle could be a lot lower than you think.
THE RULE
When you donate a vehicle, the value of your donation is either the fair market value of your vehicle when you donate it OR the value received by the charitable organization for your donation. Unfortunately, you do not...
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Make retirement plan contributions early
With retirement plan contributions, it's the early bird who maximizes tax-deferred earnings.
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As part of your planning for next year, now is the time to review funding your retirement accounts. By establishing your contribution amounts at the beginning of each year, the financial impact of saving for your future should be more manageable. Here are annual contribution limits for the more popular programs:
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