Simple, plain language tax tips for small business owners, entrepreneurs and individuals. Transform your tax return from something scary to something easily understood. Pick up business organization and bookkeeping tips as well.
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Simple, plain language tax tips for small business owners, entrepreneurs and individuals. Transform your tax return from something scary to something easily understood. Pick up business organization and bookkeeping tips as well.
Episode 37: How donating your Required Minimum Distribution to a charity can save you money!
Accounting Tips for Entrepreneurs
12 minutes 36 seconds
6 years ago
Episode 37: How donating your Required Minimum Distribution to a charity can save you money!
Required Minimum Distributions (RMDs) were placed into law to make taxpayers with income in retirement plans, which they have not yet paid tax on, to start taking this money and pay tax on it. This can increase your income and under the new tax law with it’s higher standard deductions an itemized deduction to a charitable organization may not yield any benefit. This episode explains a way to net your RMD with a charitable deduction!
Accounting Tips for Entrepreneurs
Simple, plain language tax tips for small business owners, entrepreneurs and individuals. Transform your tax return from something scary to something easily understood. Pick up business organization and bookkeeping tips as well.
