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A TAX TIP FOR CHRISTMAS

December 25, 2007

We promised a tax planning post each day through December 31, and we keep even ill-considered promises at the Tax Update.*

In the spirit of the season, we'll just note today that if a charitable contribution is billed to your credit card in 2007, it is deductible in 2007 - even if you don't pay the bill until 2008.

If you are in a giving mood, here are links to some worthy charities that will take online credit-card donations:

Salvation Army
Heifer Project
Soldiers Angels (assists armed forces members and their families)
USO
Iowa Donor Network (Iowa's organ donation facilitator)
Hospice of Central Iowa

Merry Christmas!

*In case you think we're crazy, we're keeping this promise through the miracle of "scheduled postings."

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