Fill Form 3520 Charities 2023-2024

I'm Kevin Burkhart, and I believe in Kiplinger's. Today's tax tip is about dividing your tax records into sentences and correcting any mistakes. When you sit down with your tax records, it's easy to tally up the big charitable contributions you made. You know what you gave to your church and your favorite charity. However, don't forget to check your pay stub for the amount you gave to charity through payroll deduction. Also, don't overlook the little things that can save you taxes. For instance, consider out-of-pocket expenses paid while doing good work, such as working on school fundraiser productions. These expenses may include parking fees, tolls, stamps, long-distance phone calls, and even mileage if you used your own car. Speaking of mileage, if you drove your own car for activities related to the Midwest flood disasters, the reimbursement rate is even higher. So, be sure to claim that. It's important not to underestimate the value of nickel and dime deductions. Every little bit helps, and the more you can save on your taxes, the more generous you can be this year. Here's one final tip: If you and your spouse use different checkbooks, make sure to go through both registers to uncover all the contributions you made. For more helpful tax tips to lower your tax bill, I recommend visiting the Kiplinger Tax Center at ww.kiplinger.com/techcenter.