Taking a moment to share……..
Forbes Magazine has an article on “10 Relatively Stress-Free Year-End Moves to Make to Save on Taxes after Tax Reform” (click on link below for full article). The #1 move they suggest is to Give to Charity!
- Give To Charity. Charitable donations are an easy way to reduce your taxable income if you itemize. In order to claim a charitable deduction on your tax return, you must itemize your deductions on a Schedule A. With some itemized deductions on the way out in 2018 – and the standard deduction on the way up – there may be less of a tax incentive for charitable donations in the new year (there are still non-tax reasons to give). If you anticipate itemizing your deductions for the 2017 tax year but not doing so in 2018, consider giving to charity by year-end to maximize your deductions. (Note: The East Cobb Lions Club Foundation is a registered 501(c)3 organization that has provided over 11,000 vision screenings this past year and provided over 175 professional exams and eye wear. Please consider us, contact: firstname.lastname@example.org)