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Often in the hustle and bustle of daily life and holiday planning, many people overlook the importance of year-end tax planning. There are several things you can do to realize some year-end tax savings. One of the most common ways to reduce your federal tax obligation is through charitable giving.
People often give donations in the form of cash or household goods. You may also give charitable donations in the form of stocks or even real estate. The actual amount of tax savings realized through charitable donations will vary for different people, based on tax bracket.
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