Tag: itemized deductions

Latest Posts From Tag: itemized deductions

Nonprofit

The Latest Rules on Charitable Donations

Charitable contributions are deductible, says the IRS, only if you itemize deductions. And further, they are deductible only if you make contributions to qualified charitable organizations. The tax agency reminds us that contributions to individuals are never deductible. Even if

May 20, 2025

Personal Taxes

Credits vs. Deductions: What’s the Difference?

Tax deductions and tax credits can both help you, but that doesn’t mean they’re the same thing. Knowing how they work can help you understand your tax situation. Tax credits are subtracted from your final tax liability, dollar for dollar,

May 20, 2025

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