1. Charitable contributions
When it comes to taxes, being generous can benefit you. That’s because the money (or other assets) that you donate to qualifying charities can be deducted. However, there are rules to know about.
For example, you’ll need to keep receipts or acknowledgments from the charities for your donations, in case the IRS wants to see them. If you received anything for your donation, you’ll have to subtract the value of that.
So, let’s think you donated $100 to your local public radio station and received a mug valued at $10, you can only donate $90. You can donate the fair market value of items you donate to qualifying organizations, too – such as a pile of sweaters or a sofa.
And if you did some driving in service of a qualifying charity (for example, delivering meals to the elderly), you may be able to deduct mileage, too – for 2018, the rate is $0.14 per mile driven for charity.
3 thoughts on “6 Best Tax Deductions for 2019 to Take Advantage Of”
My “tax guy” could give you all pointers!
Can you deduct medicine, medical gas if so how much
what about corp. building what limit on mortgage deduction. what changes and tax break given by Trump administration