Don’t forget about medical expenses in calculating your income tax deductions. Medical expenses may be deducted to the extent unreimbursed costs exceed 10 percent of your adjusted gross income — 7.5 percent if you or your spouse have reached age 65. Medical expenses that exceed those thresholds may be added to itemized deductions that include […]
Many people give to nonprofit organizations during the holidays. But with so many organizations in place, how should people decide which to support? Start by considering the basic differences among some of the more common types of nonprofits: 501(c)(3) organizations are operated exclusively for one or more purposes: charitable, educational, fostering national or international amateur […]
