More end of the year tax tips, this time from Bankrate. [Bankrate]

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  1. theblackdog says:

    You also can put your pledge on your credit card by year’s end. Using plastic also could help out holiday money management. Your charged donation will count for 2007 tax purposes, but you won’t have to pay the bill until next year.

    So they’re encouraging folks to put themselves further in debt to help charity? That seems to defeat the purpose of holiday money management.

  2. Squeezer99 says:

    @theblackdog:

    how is putting it on your CC in december and paying it in full in january 08 debt exactly?

  3. Bungus Aurelius says:

    @Squeezer99: Exactly. If you pay it in full in January 08, you’re fine. Which is helpful for, among others, people who get a year-end bonus in their 12/31 paycheck.

    Another benefit of pledging on a credit card is if you have a cash back CC. 2% back on a $500 donation is pretty nice if you were already going to donate the $500 by check anyway.