- Tax Planning
- Introduction
- Understand What Our Leaders Have Said Regarding Taxes
- Understand How Tax Planning Can Help You Attain Your Personal Goals
- Understand the Tax Process and Tax Strategies to Help You Lower Your Taxes
- Understand How to Minimize Tax Payments for a Given Level of Income
- Understand How To Be More Efficient With Your Taxes
- Understand the Major Tax Features of the US Tax System
- Summary
- Assignments
- Investments 1: Before you Invest
- Investments 2: Your Investment Plan
- Investments 3: Securities Market Basics
- Investments 4: Bond Basics
- Investments 5: Stock Basics
- Investments 6: Mutual Fund Basics
- Investments 7: Building Your Portfolio
- Investments 8: Picking Financial Assets
- Investments 9: Portfolio Rebalancing and Reporting
- Retirement 1: Basics
- Retirement 2: Social Security
- Retirement 3: Employer Qualified Plans
- Retirement 4: Individual and Small Business Plans
- Estate Planning Basics
3. Keep Good Records for Itemizing Deductions
Keep records of things you donate to Deseret Industries, the Salvation Army, United Way, and other charitable organizations: these donations can increase your tax deductions. You should also keep good records showing what non-cash charitable contributions you make, such as miles you travel for church-related or Boy and Girl Scouts activities. These contributions can be deducted at a specific mileage rate (14¢ per mile in 2009). Be aware that business miles driven can be deducted at 50.5¢ per mile, and medical or moving miles driven can be deducted at 19¢ per mile.
