As the days get shorter and cooler, taking your kids outdoors might not always be an option. You may be in need of something to keep your kids active and entertained. Did you know that some or all of the costs of memberships to organizations that qualify as nonprofit 501(c)3 organizations such as the Chicago Botanic Gardens, Children's Museum, Shedd Aquarium, and Brookfield Zoo can be tax deductible. Often times, the cost of a family membership can pay for itself in as few as two visits for a family of four.
If you are looking for possible holiday gifts for loved ones, a membership can be a great present and provide yourself with an additional charitable deduction at the end of the year. Further, grandparents can utilize their RMDs from IRA's with a Qualified Charitable Distribution.
If you are looking for possible holiday gifts for loved ones, a membership can be a great present and provide yourself with an additional charitable deduction at the end of the year. Further, grandparents can utilize their RMDs from IRA's with a Qualified Charitable Distribution.
Just remember to keep your receipts for these expenses in a safe place so that you can reap the tax benefits when you file in the next calendar year.
If you have any questions regarding your personal taxes and other exemptions you may qualify for, please feel free to contact Glick and Trostin, LLC at 312-346-8258.
Disclaimer: The materials on this website are provided for informational purposes only and do not constitute legal advice. Transmission of the information is not intended to create, and receipt does not constitute, an attorney-client relationship between any attorney and any other person, group or entity. No representations or warranties whatsoever, express or implied are given as to the accuracy or applicability of the information contained herein. No one should rely upon the information contained herein as constituting legal advice. The information may be modified or rendered incorrect by future legislative or judicial developments and may not be applicable to any individual reader's facts and circumstances.
Disclaimer: The materials on this website are provided for informational purposes only and do not constitute legal advice. Transmission of the information is not intended to create, and receipt does not constitute, an attorney-client relationship between any attorney and any other person, group or entity. No representations or warranties whatsoever, express or implied are given as to the accuracy or applicability of the information contained herein. No one should rely upon the information contained herein as constituting legal advice. The information may be modified or rendered incorrect by future legislative or judicial developments and may not be applicable to any individual reader's facts and circumstances.
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