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If I Don't Itemize My Taxes, How Do I Deduct Charitable Contributions?

March 11, 2021
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The world of taxes is ever-changing, but as of now, there are two ways to get Charitable Contribution Deductions:

1. Standard Deduction (given to you)

2. Itemizing each of your Deductions

This past year saw in increase in the Standard Deduction and it is hard to surpass, but watch the video closely because I will mention a loophole that allows you to use both types of Deductions!

Main points mentioned in this video:

0:55 Standard Deduction

1:00 Itemizing your Deductions

1:27 A recent change in tax law

2:12 Loophole 

Have questions about anything mentioned in this video? Email us at woods@twfwealth.com - we would be happy to assist you!

Nelson Elder Care Law, LLC is not affiliated with Avantax Wealth ManagementSM