DFW (WBAP/KLIF) – December has arrived and the end of 2019 and the second decade of the century is fast approaching . It’s not to soon to be thinking about federal taxes and how to legally reduce your bill.
One way is to contribute to charitable organizations. Metroplex Texans are some of the most generous people donating over 30 million dollars in a 24 hour period last year.
Financial advisor Spencer McGowan suggests those wishing to give might begin by getting out to the garage and picking out in-kind donations to give before the end of the year. You can claim about 4 thousand dollars with reasonable valuation and save about 2 thousand dollars off your tax bill.
Be certain to check with your tax advisor on this or any other donations you wish to make and claim for tax purposes.
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