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Household Finance

Taxes

A woman makes the shape of a heart with her hands.
Household Finance
Donating to a 501(c)(3): Research, verify, donate, itemize, and deduct
Remember to keep your receipts.
Composite image: Unicef, a church rose window, and Bill & Melinda Gates Foundation.
Household Finance
What is a 501(c)(3) nonprofit organization and how do I start one?
A tax exemption with approval, compliance, and management complexities.

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Filing a tax return: When it’s required and when it’s worth itKnow if you owe—or if you’re off the hook.
State and local taxes you paid: Are they tax deductible?Itemize and you can deduct up to $10,000 in 2025.
Cash vs. accrual accounting: How are you recording revenue and expenses?Be mindful of GAAP.

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1031 exchange rules: How to avoid capital gains tax when selling property
It’s a “like-kind” kind of thing.
Alternative minimum tax: Is it only for the wealthy?
A high income may require alternative tax calculations.
Capital gains and losses: Keeping track and paying taxes
What happens when you sell an asset?
Cash vs. accrual accounting: How are you recording revenue and expenses?
Be mindful of GAAP.
Donating to a 501(c)(3): Research, verify, donate, itemize, and deduct
Remember to keep your receipts.
Donor-advised funds: A way to give to charity and get a tax break
Set up your own charitable “foundation.”
Don’t fear the gift tax: Understanding gift tax exclusions and rules for 2024
Most people can give without being taxed.
Filing a tax return: When it’s required and when it’s worth it
Know if you owe—or if you’re off the hook.
Filing your taxes: Answers to 6 frequently asked questions
DIY or get help?
Form 1099: What it’s for and how it affects your taxes
Are you withholding or estimating enough tax?
Give till it hurts: A list of the taxes we pay
A little here, a little there, and it really adds up.
Save, spend, or invest: How to handle tax refunds and other financial windfalls
To splurge, or not to splurge: That is the question.
Should you itemize tax deductions or take the standard deduction?
The math changed in 2018.
Snowbird? Empty nester? Tax tips to consider if you spend time in two states
Do you know your residency rules?
State and local taxes you paid: Are they tax deductible?
Itemize and you can deduct up to $10,000 in 2025.
Tax deductions, tax credits, and tax refunds—what’s the difference?
Top line, bottom line, leveling line.
Tax schedules and forms related to Form 1040, U.S. Individual Tax Income Tax Return
So many forms, so little time.
What are tax credits (and how do I get them)?
Children, college kids, EVs, and more.
What is a 501(c)(3) nonprofit organization and how do I start one?
A tax exemption with approval, compliance, and management complexities.
What’s a marginal tax rate? How do federal tax brackets work?
Cutting through the tax rate jargon.
You can file a tax extension, but should you?
It’s not just free time.