About Taxes: Giving Strategies for the End of the Tax Year

Taxes In the Spotlight | More Topics |   from William Perez Giving can reduce your tax liabilities, if you give to a charity. Taxpayers with potentially taxable estates may want to work with their attorney or accountant to develop a strategy for giving money away to family members as a way to minimize or avoid the estate tax.   In the Spotlight Giving to Charity Giving money away to a worthy cause is a great tax strategy to implement at the end of the year. For one thing, you'll be able to assess how much money you have left over to donate, and secondly you're in a better position to estimate your itemized deductions to find out if you are eligible to itemize and how much extra deductions you might need to tame your tax liabilities....read more              More Topics Standard Mileage Rates for 2009 Use Funds in a FSA Max out Your 401(k) Plan Capital Gains Tax Guide Filing Status Canceled Mortgage Debt 2009 Tax Figures Giving to Family and Friends You can give up to $12,000 per year, per person tax-free. You don't need to file a gift tax return as long as you give $12,000 or less to any individual. For 2009, the annual gift tax exclusion rises to $13,000 per year. Making monetary gifts or gifts of property, stocks, or real estate can be a smart way to reduce your taxable estate and shift assets to a lower tax bracket....read more   More Year-End Tax Tips Twelve ideas for reducing your federal taxes before the year is out. The basic strategies are to boost deductions and to defer income....read more     Sponsored Links   Best Moves in a Bad Economy Save & Invest the Right Way Find out how to beat a bear market, make smart choices, and keep your cool even when the economy is unpredictable. Tax Planning: U.S. Ads Tax Calculation Tax Deductions Tax Rates Tax Brackets 2006 Taxes Advertisement     Visit Related About GuideSites: Search About      Sign up for more free newsletters on favorite topics. You are receiving this newsletter because you subscribed to the About Taxes newsletter as lemmetry@GMAIL.COM. If you wish to change or remove your email address, please visit: http://www.about.com/nl/usgs.htm?nl=taxes&e=lemmetry@GMAIL.COM About respects your privacy. Our Privacy Policy. Our Contact Information. 249 West 17th Street New York, NY, 10011 © 2008 About, Inc.