Make It Easy to Make Charitable Contributions at Tax Time
Published in
Jan 26, 2022
Excerpt from “Why Knot?” Buy the book at Amazon
As late as April 15, you can make last minute contributions to your IRA, SEP and other retirement funds. Those contributions count toward your previous year’s taxes. That means you can maximize your retirement contribution and minimize your tax, using tax preparation programs like TurboTax.
Why not allow charitable contributions on the same basis? Then you could decide how much you would like to contribute with full knowledge of your tax situation, rather than guessing at the end of the calendar year. Such programs could then prompt you with suggestions of reliable charities dedicated to the kinds of activities that you want to support, and help you make the desired contributions online.
