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  2. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

    www.aol.com/finance/10-tax-deductions-know-2023...

    Married couples filing together can deduct $25,900, and heads of household can deduct $19,400. Individuals who are 65 or older and those who are blind can claim an additional $1,750 for tax-year ...

  3. Taxes 2023: Here are the biggest tax changes this year - AOL

    www.aol.com/finance/taxes-2023-biggest-tax...

    EITC CTC 2023 Filing Season. The enhanced CTC was not extended and returns to $2,000 per child dependent for the 2022 tax year, down from $3,600 last year. The other big change to the CTC is that ...

  4. Make an impact by maximizing year-end charitable giving to ...

    www.aol.com/impact-maximizing-end-charitable...

    For example, you can make your 2024 charitable contribution in 2023 in order to itemize the deduction. Then, in 2024 and in subsequent years, you can claim the standard deduction.

  5. Charitable contribution deductions in the United States

    en.wikipedia.org/wiki/Charitable_contribution...

    Contributions to charitable organizations are deductible to the donor, unless the donee organization uses any of its net earnings to benefit a private shareholder, or if it attempts to in any way influence political campaigns or legislation . A contribution to a charitable organization need not be fully a "gift" in the statutory sense of the ...

  6. Itemized deduction - Wikipedia

    en.wikipedia.org/wiki/Itemized_deduction

    t. e. Under United States tax law, itemized deductions are eligible expenses that individual taxpayers can claim on federal income tax returns and which decrease their taxable income, and are claimable in place of a standard deduction, if available. Most taxpayers are allowed a choice between itemized deductions and the standard deduction.

  7. 501(c)(3) organization - Wikipedia

    en.wikipedia.org/wiki/501(c)(3)_organization

    26 U.S.C. § 170 provides a deduction for federal income tax purposes, for some donors who make charitable contributions to most types of 501(c)(3) organizations, among others. Regulations specify which such deductions must be verifiable to be allowed (e.g., receipts for donations of $250 or more).

  8. Donor-advised funds: A popular tax-advantaged way to give to ...

    www.aol.com/finance/donor-advised-funds-popular...

    So, for example, a couple may have itemized deductions of $20,000 and decide that they want to establish a fund with a $50,000 contribution and reap the additional tax deduction.

  9. The Best Tax Deductions and Tax Breaks for 2023-2024 - AOL

    www.aol.com/most-americans-think-taking-entitled...

    Learn the most common tax deductions available. ... Your deduction for charitable contributions generally can’t be more than 60% of your adjusted gross income, but in some cases, 20%, 30%, or 50 ...

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