Securing financial advantages through charitable donations is a noble endeavor that fosters responsible wealth management. Under Section 80G of the Income Tax Act, taxpayers can claim deductions on their income tax returns for contributions made to eligible charities . This provision not only minimizes your tax liability but also directs resources … Read More

The federal tax code allows persons and companies to help make noncash contributions to qualifying charities and to assert deductions for these contributions on their tax returns. What many retirees don’t know is that they can donate all, or simply a portion of, their needed minimum distribution (RMD) straight to charity. It’s identified as a … Read More