
New charitable giving tax deduction worth up to $2,000 is coming soon, and you don’t have to itemize
Millions of taxpayers will soon benefit from a new above-the-line tax deduction worth up to $2,000 for qualified charitable contributions.
Andrea Coombes, a tax editor at Bankrate, translates complex personal finance topics into understandable language that helps people live their best financial lives. She’s a CERTIFIED FINANCIAL PLANNER™ and over the past 25 years has worked as a financial coach, personal finance writer and editor, and volunteer tax preparer.
Her work has been published in The Wall Street Journal, USA Today, MarketWatch and many newspapers nationwide. She's been interviewed on local and national TV and radio, including NPR's All Things Considered, CBS News, NASDAQ and Marketplace.
Andrea has moderated panels on how to invest for retirement, how to use 529 college savings plans and more, and she's an experienced personal-finance speaker who has presented to groups on a variety of topics such as how to budget, improve credit, manage debt, and build savings. She's also worked as a personal financial coach and certified consumer credit counselor, helping people reach their goals. For two tax seasons, she worked a volunteer tax preparer.
A lot of people are nervous about doing their taxes, and about managing their money in general. I'm here to say: It's not rocket science. There are small steps each of us can take to slowly start moving towards our long-term goals. We can do this, people.
— Andrea Coombes, CFP®
You may be able to deduct certain medical expenses if they meet IRS requirements.
Now’s the time to start preparing for the upcoming tax filing season. Here are 7 tips to get you on track.
TaxSlayer offers low-cost tax software, even for people with complex tax situations.
H&R Block is the best bet for those who qualify for the free edition or those who want in-person expert help.
TurboTax offers comprehensive yet easy-to-follow tax filing software, but at a higher price than competitors.
The IRS is strict about what you can and can’t deduct to trim your tax bill.
Trump’s plan to eliminate taxes on Social Security benefits would help current beneficiaries, but future recipients may be hurt by the move.
These four year-end tax strategies can help trim your taxes for 2024 and beyond.