Giving back to your community is a rewarding experience, and it can be a smart financial move. By making charitable donations, you can reduce your tax liability. Think about donating to qualified organizations like charities, religious groups, or educational institutions. These contributions are often able to lower your tax bill, allowing you to lo

Tina Orem is surely an editor at NerdWallet. Before becoming an editor, she was NerdWallet's authority on taxes and modest business enterprise. Her function has appeared in a variety of local and countrywide outlets. See full bio.   For contributions of food stock in 2020, business taxpayers could deduct certified contributions of around twenty f