How much money do you need to donate before itemizing taxes?

Answer The Internal Revenue Service stipulates that you may donate up to 50 percent of your income. In order to itemize for tax purposes, the total of the itemization needs to be larger than your standard... Read More »

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What is itemizing on taxes?

When filling a U.S. federal tax return each filer must make a decision between the standard deduction and the itemized deduction. Either method is acceptable, but fully understanding what itemized ... Read More »

How to Deduct Property Taxes Without Itemizing?

The Internal Revenue Service allows taxpayers to claim a deduction for a limited amount of real estate taxes without itemizing their deductions. This deduction is added to the standard deduction am... Read More »

Can a retired person donate a car and file for taxes?

Vehicle donations made by a retiree may still reduce taxable income for the year in which the donation was completed. A person's retirement status in no way excludes him from taking advantage of le... Read More »

How much can i deduct from my taxes if i donate my junk vehicle?

According to the IRS, if your car is valued over $500 the amount you can deduct from your taxes for donating it depends on how much the charity receives from selling your car. You can claim the gro... Read More »