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Good deeds can produce good tax savings

2005 is almost over and so is your opportunity to take tax advantage of your generosity. You have to give by Dec. 31 to make it worthwhile on April 17.

 
Maximizing tax-savvy contributions
Follow the tax rules to guarantee gift deductibility

Sure, the Internal Revenue Service lets you deduct donations -- if you follow these rules.

 
A tidier house could mean a smaller tax bill
Your donations of unused household goods and old clothing sure emptied your closets. Here's how they could increase your bank account at tax time.
Plus: Use Bankrate.com's tax valuation work sheets to track 2005 tax gifts
 
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Getting the most tax mileage from that old car
It's the end of the road for easy auto donations. Next year, IRS rules get tougher. So if you're thinking of giving your jalopy to your favorite charity, do it now.
Plus: Things to consider when donating a vehicle
 
Uncommon charitable donations that can cut your tax bill
If you thought your tax deduction for charitable contributions ended when you dropped that box of clothing off at your favorite charity, think again. There are other unusual ways to donate and get a tax break.
 
Beware of scammers looking to divert donations
Sometimes the best intentions can fall prey to the worst con artists. Here's how to make sure your heartfelt assistance gets to the right place.
 

 

 
-- Updated: Nov. 19, 2004
   

 

 
 

 

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