5 Charity No-No’s for The New Year

When the Tax Cuts and Jobs Act (TCJA) of 2017 went through, it essentially doubled the standard deduction. This led many households to reevaluate their charitable giving, mainly because they had to reevaluate their tax strategy. With the new year now underway and tax season drawing near, it’s smart to plan for your charitable giving for 2020. With that in mind, here are five charity no-no’s you should keep in mind. 1. Assuming Your Political Donations Count Since 2020 is an election Read more [...]

Sell Losing Stocks to Pay Less in Taxes

As the year draws to a close, many people examine their financial situation. At times, the goal is to take last-minute actions that can lower your tax liability. If you have some losing investments, selling those stocks could help you reduce what you owe. With the tax-loss harvesting strategy, you can reduce what you pay in capital gains taxes. Here’s a look at how it works. How Tax-Loss Harvesting Gives You a Tax Break With tax-loss harvesting, you sell losing stocks to reduce the tax impact Read more [...]