42% of Workers Earning Over $100,000 Share This Money Woe
You might think earning six figures or more puts you on Easy Street. Find out why that isn’t so.
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Getting the most from your charitable deductions
Charitable deductions can be a complex and confusing area of your tax return. Understanding what you can deduct and what you can’t deduct can be confusing. Documenting it properly adds yet another layer of difficulty. To help sort it all out, I talked to Kelly Erb, (a.k.a. Taxgirl), and Kay Bell (of Don’t Mess With Taxes).
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- Erb is a tax attorney who runs her own tax law firm with her husband. She’s also been blogging about taxes for the past six years. Before striking out on her own, she clerked for the IRS, specializing in estate and gift taxes. She also worked for a boutique law firm that primarily handled estates and gifts.
- Bell is the author of The Truth About Paying Fewer Taxes, and the founding editor of Bankrate’s tax section. She has worked on Capital Hill with the House Ways and Means committee.
Both women offered great tips for getting the most from your charitable deductions while taking care to avoid pitfalls that could get your return flagged.
Should You Be Taking Charitable Deductions?
Most people give at least some money to charity, but few of us take our charitable deductions. In fact, only about a third of households itemize their deductions. The rest simply take the standard deduction, which for the 2010 tax year is:
Tax-preparation fees: How much does it cost to have your taxes done?
The cost to file income taxes can fall anywhere between zero dollars — as in you do your taxes yourself and file for free — and several hundred dollars, with an average cost of $273 for using a tax preparer, less if you don’t itemize ($159), according to the most recent data available from the National Society of Accountants.
To judge the value correctly, though, those costs have to be weighed against the results you get, your own comfort level with going DIY, plus what could go wrong if things don’t work out.
Why you should Get your Shit Together Before you Make it Big
Tales of squandered success. Both Mr. Money Mustache’s mailbox, and the world at large are filled with them. Every day another pile of $250,000 earners collapses from stress or goes insane, because they have managed to slip into an awful life of debt and time scarcity, despite the fact that they are living within a […]
Selling Your Home? Don’t Neglect These 6 Maintenance Tasksâor Else
Just because you’re in contract doesn’t mean you can neglect routine home maintenance. Here’s how to avoid problems that could derail a sale.
Shop at the Best Thrift Stores in Nashville – Thrillist
Shop at the Best Thrift Stores in Nashville Thrillist
Industrial Interior Design: Everything You Need to Know – Architectural Digest
Industrial Interior Design: Everything You Need to Know Architectural Digest
PSECU Mortgage Rates Review
The Pennsylvania State Employees Credit Union (PSECU) is a credit union with over 400,000 members. Headquartered in Harrisburg, Pennsylvania, PSECU provides membership to state employees. These include a variety of individuals, including the staff, faculty, and alumni of universities that make up the Pennsylvania State System of Higher Education and the Harrisburg Area Community College, […]
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The 5 Most Popular Dallas Neighborhoods For Renters
Looking to move to one of the most popular Dallas neighborhoods? See which areas are most searched by ApartmentGuide.com renters.
The post The 5 Most Popular Dallas Neighborhoods For Renters appeared first on Apartment Living Tips – Apartment Tips from ApartmentGuide.com.
Apple Now Offers a High-Yield Savings Account
Those with an Apple Card are eligible for the account.