Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one minute moment.
Charitable contributions. Many people keep saying they’re not deductible, they’re not deductible. Well, that’s not true. The fact is they are deductible differences is that you have to meet your standard deduction first. So sometimes I call it even odd. You might want to rethink how you’re doing your itemizing. Some years, you might want to just take the standard deduction, and then double up on your charitable contributions and your property taxes in the next year. That way, you might find out that itemizing one year and taking a standard deduction next year may put more money in your pocket.
If you need help with some tax planning or understanding your taxes, call me at (615) 367-0819.
You can catch the Doctor Friday Call-in Show live every Saturday afternoon from 2pm to 3pm right here on 99.7 WTN.