It’s a good time to review your portfolio for tax-saving strategies. The long-term capital gains tax rate is still historically low on appreciated securities that have been held for more than 12 months. The federal income tax rate on long-term capital gains recognized in 2019 is 15% for most taxpayers. However, the top rate of […]
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Volunteering for charity: Do you get a tax break?
Are you a volunteer who works for charity? You may be entitled to some tax breaks if you itemize deductions on your tax return. Unfortunately, they may not amount to as much as you think your generosity is worth. Because donations to charity of cash or property generally are tax deductible for itemizers, it may […]