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How to donate a used car, and what that gift means for your taxes - Vimarsana News

How to donate a used car, and what that gift means for your taxes

While donating a used car will help a driver in need this holiday season, don't expect it to change significantly your taxes alone.

Source: cnbc.com
The IRS is contemplating this workaround to keep away from the state and native tax cap - Vimarsana News

The IRS is contemplating this workaround to keep away from the state and native tax cap

Adam Jeffery | CNBC The IRS has signaled that it will bless a workaround that will allow small business owners to bypass the $ 10,000 limit on state and local income tax deductions. Since the Tax Cut and Employment Act went into effect in 2018, high-tax countries have been looking for ways to help individual taxpayers listed on their tax returns cope with the $ 10,000 limit. Last year, the IRS and Treasury blocked one of those strategies, laws in New York, New Jersey, and Connecticut that would have allowed municipalities to create charitable funds to pay for local services and offer propert...