rules Archives - 2011 Taxes to 2024 Taxes

Rules for Charitable Contribution Deductions

April 11, 2020November 22, 2011 by Steve

Charitable contributions made to qualified organizations through the year may help reduce your tax bill. Many organizations give donors pertinent details about their tax-deductible donation including the amount that can actually be reported on your tax return. The following tips may help ensure donation made will be beneficial on your taxes.

Make sure you report charitable contributions on the correct form. The IRS states that form 1040 must be used to itemize deductions using Schedule A.
Upon reporting the deduction, make sure it was made to a qualifying charitable organization. Contributions reported shouldn’t be donations made to individual or political

… Read more at 2011 Taxes.

Roth IRA Rules and Penalties

January 13, 2018June 3, 2011 by Steve

In the world of retirement plans, there are many types of financial investments available for all classes of workers. Most people are quite satisfied with the 401k plan which comes customarily with their employment. People who switch employment before they can retire may wish to make a rollover from their 401k account to a Roth IRA. Because of the complexities involved in making the rollover, there are actually quite a number of financial institutions that offer to handle the legal red tape involved with rolling over your assets from the 401k to your new Roth IRA.

In any case, there … Read more at 2011 Taxes.