IRS Tips to Reduce 2011 Taxes
In the middle of rushing, don't neglect to do the important things before December 31.
The Internal Revenue Service knows that you are rushing right now to make last-minute donations to your favorite charities, which certainly helps reduce your taxes. In the process, givers may forget some obvious things, including other things that can be done to help you in this mad dash to the December 31 deadline. Here's a tip sheet from the IRS to help you out. 1. Make charitable contributions. If you itemize deductions, donations must be made to qualified charities no later than Dec. 31 to be deductible for 2011. You must have a canceled check, a bank statement, credit card statement or a written statement from the charity, showing the name of the charity and the date and amount of the contribution for all cash donations. Donations …
