2 results for tag: tax deduction charity

Claim a Parent As a Dependent

If you are caring for your elderly mother or father, you may be able to claim your parent as a dependent on your income taxes. This would allow you to get an exemption of $3,950 for that tax year.

3 Rules Of Charitable Donations

There are so many rules and regulations pertaining to charitable contributions. The IRS takes these things very seriously! If you get caught unintentionally donating to an unauthorized organization, all of your respectable deductions may be withdrawn. This could have an extraordinary impact on your previous tax filings; let on alone the fines on the monetary value once the effected tax return is adjusted to exclude the illegal contribution.