How to Lower Your Tax Bill With Charitable Donations

In order to get that lower tax bill, you'll need to itemize your deductions. Most people just take the standard deduction because it is so high compared to the itemized deductions. With charitable donations, if you want to direct your charitable donations to a tax deductable entity, then that's a great way of potentially lowering your tax bill. If you front load them, and certainly a valid strategy that people do is, ok, this year, i'm goingt i'm going to donate a 15 % of my income to charity. That is an excellent tax strategy.