Charitable Giving
Tax Issues to Be Aware of as Year-End Approaches
Submitted by Desmond Wealth Management, Inc. on December 16th, 2020It seems hard to believe, but the holiday season is almost upon us, and that means that the 2020 tax preparation season will soon follow. With the end of the tax year just weeks away, it may be appropriate (especially this year, in light of the financial havoc created by COVID-19) to review some year-end tax issues that might reduce your tax bite for 2020 or provide long-term tax benefits.
Tax Law Changes Allow Year-End Charitable Planning Opportunities
Submitted by Desmond Wealth Management, Inc. on November 13th, 2020As the end of the tax year approaches, it is worth spending a few minutes reviewing some of the changes that have been made in the tax laws surrounding donations to charities. In some cases, this guide will serve as a refresher regarding revisions made over the last few years, while in other cases there have been COVID-related changes that you may not be aware of.