How ‘Bunching’ Your Donations Can Help You at Tax Time ...Middle East

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How ‘Bunching’ Your Donations Can Help You at Tax Time
Most people claim the standard deduction on their federal tax return instead of itemizing deductions, but that means losing out on potential tax benefits for charitable giving. If you regularly donate to charity but don't quite meet the threshold for itemizing deductions, you may be able to optimize your tax deductions through a strategy called "donation bunching." Here's how it works and why it can benefit certain taxpayers.What is donation bunching?Donation bunching involves planning your charitable giving so you itemize your deductions every other year. So, those who find themselves stuck between taking the standard deduction or itemizing could reach more tax savings by “bunching” two yea

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