2017 is a great time to take advantage of current IRS allowable tax deductions. One my favorites is donating stocks or bonds directly to a worthwhile charity or nonprofit. You can take the deduction for the current value of the stock and pay no taxes on the gain that creates sort of a double deduction. Long-term family goals, needs and your financial situation would of course need consideration. Current tax bill legislation will most likely create less reward for charitable deductions and lower tax liability in 2018. Any deduction you can take in 2017 will create greater tax savings than waiting for a later time. You will save more money and have the satisfaction of your money going farther. We say “incentives” because there are federal and state income tax deductions for charitable donations. As we approach the end of 2017, there are major federal tax changes on the table but there appears to be little prospect that the charitable donation deduction will be reduced … [Read more...] about Share! A Guide to 2017 Charitable Donations