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Taxes Category

  • Pretax, Roth, or After-Tax Contributions: Which Should You Choose?

    Pretax, Roth, or After-Tax Contributions: Which Should You Choose? If your employer-sponsored retirement savings plan allows pretax, after-tax, and/or Roth contributions, which should you choose? Pretax: Tax benefits now With pretax contributions, the money is deducted from your paycheck before taxes, which helps reduce your taxable income and the amount of taxes you pay now. […]

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  • Substantiating Your Charitable Gifts

    When you claim a federal income tax deduction for charitable contributions, you must substantiate the contributions by maintaining certain records. The records must establish the charity to whom the gift was made, the amount of cash or the type and value of other property donated to charity, whether anything was received in consideration for the […]

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