Most people think a charitable deduction comes from writing the check. To the IRS, it comes from the paperwork. A gift can be completely genuine and still be denied if you can’t prove it. With Giving Tuesday on December 1 and year-end about three months away, now is the time to set up your records, not next April. Step 1: Confirm the Charity Qualifies • Only gifts to qualified organizations are deductible. Check any charity you’re unsure about using the IRS Tax Exempt Org

When it comes to lowering your taxable income, medical expense deductions can be a valuable tool—but only if you understand what qualifies. Many taxpayers miss out simply because they don’t realize which costs can be deducted or how to claim them properly. To deduct medical expenses, you must itemize your deductions on Schedule A (Form 1040). You can only deduct the portion of your unreimbursed medical expenses that exceeds 7.5% of your adjusted gross income (AGI). For exampl