Are You Prepared for Tax Time?

Get the Most Out of Your Return

Tax season is here. If you haven’t done so already, it is time to gather paperwork and file your 2019 taxes. Below, you’ll find some tips to help you prepare for your tax appointment and ensure you get the most out of your giving.

1.     Know what you can deduct. You can deduct cash, property and stock donations made to a charitable organization (such as the Catholic Diocese of Baton Rouge) if you itemize your taxes. You cannot deduct the value of any time or services spent on charitable work, but you can deduct mileage and vehicle expenses if used for charitable purposes.

2.     Get organized. You’ll need to take your W-2 form from your employer, charitable receipts, last year’s tax return information and more. Ask your tax preparer what you need and take time to gather these items well in advance of your tax appointment.

3.     Involve the professionals. A professional tax adviser is the best person for advice on specific tax issues.

Quick Tip: Make Tax Time Easier

Transfer records to personal budgeting software such as MintYNAB or Quicken. Digitize your information from financial transactions to stay organized. Some apps also integrate your info with tax software to make preparation much easier.

Still Have Questions?

Take a moment and contact Tamika Edwards-Raby: This email address is being protected from spambots. You need JavaScript enabled to view it. , or by phone, 225-242-0106. We’ll be happy to help, and we can discuss how you can make supporting the Diocese of Baton Rouge a part of your plans.

 

For additional information on the many ways you can support your Catholic Diocese, please contact the Office of Stewardship to learn more. Discover how you and your gifts can provide healthy spiritual blessings to many for years to come.