Smoky Mountain Trader

November 25th, 2021

The Smoky Mountain Trader a free Classified paper serving 12 counties in 3 states. Hamblen, Knox, Jefferson, Cocke, Grainger, Sevier, Hancock, Hawkins, Claiborne and Greene Counties in Tennessee. Plus Lee County Virginia and Bell County Kentucky.

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SAVE ON YOUR HOME IN- SURANCE WITH CUSTO- MIZED COVERAGE. Call for a free quote: 423-707-2355. *ACS 550 Automobiles Selling your car? Sell it in The Smoky Mountain Trader clas- sifieds. Call 423-587-1700. 1986 Nissan P.U Truck Runs, Needs Work, 4CYL, Automatic $1000 423-312-8481 ATTENTION: Auto Injury Victims. If you have suffered a serious injury in an auto accident, CALL US! Our attorneys have the experience to get you the full compensation you deserve! Call Now: 865-338-7847 2005GMC.jpg 2005 GMC Z-71 4DR, 4WD $7450.00 Call 561-768-6360 or 423-586-9590 Maximize your Maximize your charitable giving charitable giving The Tuesday after Thanksgiving has become known as Giving Tuesday, when people are encouraged to donate to charitable organiza- tions. If you'd like to take part in this special day, you'll want to maximize the effectiveness and benefits of your charitable gifts. So, consider these questions: • Is the charity reputable? Does it use its resources wisely? Most charitable organiza- tions are honest and dedicated to helping their specific causes. But sometimes there are a few "bad apples" in the bunch. These groups aren't necessarily fraudulent (though some are), but they may spend an inordinate amount of their donations on administrative expenses, rather than directing this money to where it's most needed. Fortunately, you don't have to guess about the trustworthiness or the efficiency of a particular group, because you can check on it. To make sure that a charity is an actual charity – one that is tax-exempt and listed as a 501(c)(3) organization – you can go to www.irs.gov, the website of the Internal Revenue Service, and hit the "Charities & Nonprofits" link. An organization called Charity Navigator (www.charitynavigator.org) tracks charitable groups' financial health and accountability, including how much is spent on administrative and fundraising costs. Generally speaking, a charitable group that dedicates more than about 30% to 35% of its total costs to administration and fundraising expenses might be considered somewhat inefficient, though you'd want to evaluate each charity individu- ally, since extenuating circumstances can occur. Keep in mind, though, that smaller charities may not have the same resources as a national organization to provide the reporting necessary for Charity Navigator. • Will my employer match my contribution? You can make your charitable gift go a lot further if your employer matches it. Typically, companies match donations at a 1:1 ratio, but some will match at 2:1 or even higher. Check with your human resources department about your company's policy on charitable matches. • Are my charitable gifts tax deductible? A few years ago, Congress significantly raised the standard deduction, which, for the 2021 tax year, is now $12,550 for single taxpayers, $25,100 for joint filers and $18,800 for heads of household. As a result of this increase, many people no longer itemize and thus have less financial incentive to make charitable contributions. If you still do itemize and you're thinking of making charitable gifts, you generally have a choice between giving cash and another asset such as stocks. Each type of gift could earn you a tax deduction, but a gift of appreciated stocks could be more beneficial because you may also be avoiding the capital gains tax you might incur if you eventually sold the stocks. You should consult with your tax advisor and the charity (not all accept investments) before making the cash-versus-stock decision. Even if you don't itemize, you could still get a tax benefit from making a charitable contribution. That's because Congress has extended part of the COVID-19-related legislation that allows taxpayers to claim charitable deductions of $300 (for single filers) or $600 (for married couples) if they claim the standard deduction. The charitable donations must be made in cash, not stocks. Giving Tuesday comes just once a year, but your gifts can have lasting benefits. So, be as generous as you can afford – and enjoy the good feelings that follow. Marcus Trantham Financial Advisor 6144 Cumberland Gap Parkway Suite 3 Harrogate, TN 37752-7861 Bus. 423-869-3608 Fax 888-810-2732 marc.trantham@edwardjones.com www.edwardjones.com/marc-trantham This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Marcus Trantham Financial Advisor 6144 Cumberland Gap Parkway Suite 3 Harrogate, TN 37752-7861 Bus. 423-869-3608 Fax 888-810-2732 marc.trantham@edwardjones.com www.edwardjones.com/marc-trantham Page 12 - The Smoky Mountain Trader - November 25 - December 1, 2021 www.thesmtrader.com SCAN ME! thesmtrader.com APPALACHIAN APPALACHIAN AUTO REPAIR AUTO REPAIR APPALACHIAN AUTO REPAIR 520 Jarnigan Ave. 520 Jarnigan Ave. Morristown, TN Morristown, TN 423-587-2260 423-587-2260 520 Jarnigan Ave. Morristown, TN 423-587-2260 Brakes $110.00 Per Axle Alignment $60.00 Oil Change & Tire Rotation $35.00

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