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 Tax Tips
A Tip a Day Keeps an IRS Notice Away

E-Filing 

E-filing is fast, and that's a terrific reason to e-file! But the most important reason is that when you e-file through 1040.com Online Tax Preparation, the program catches math and other common errors, letting you quickly make corrections and try again.

Make sure the last name of each individual claimed on your tax return is the official last name of the person. If you have any question or doubt as to the official last name of an individual you will be claiming on your return, verify the information with the Social Security Administration at (800) 772-1213.

Charitable Contributions

If you want to claim a charitable deduction, be sure the charity or philanthropic organization you select is a tax-qualified organization under IRS rules. Use GuideStar for Donors to research nonprofits' tax-exempt status.

Charitable purchases are only deductible in the amount exceeding the worth of the item purchased. For example, if you attend a fancy $500 a plate dinner for children's hospital, the deductible amount is equal to $500 minus the fair market value of the dinner. Learn more from our Contributions article.

Make sure you obtain a receipt for any and all of your charitable cash contributions – if you want to deduct them! Learn more from our Contributions article.

  
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