Giving back to the less fortunate is a rewarding experience. But, strategic charitable donations can provide significant tax advantages. By understanding the rules surrounding charitable deductions, you can amplify your tax savings while supporting causes that are important to you. Consider working with a tax professional to develop a plan that ali

"That will allow you to decrease your taxable income," says Ed Slott, a CPA who educates economic advisers on IRA and retirement planning strategies. You may also claim a charitable deduction, assuming you could itemize during the 12 months you donate. According to the IRS, here's how much You donate for tax deduction will need to have created in