Many young professionals I come across are charitably inclined and have funds to dedicate to charitable causes above and beyond their financial goals. This is a discussion of charitable giving strategies available for young professionals, some of the tax advantages associated and when each strategy may be appropriate.

The married filing separately tax status is, in most cases, less favorable than filing single, married filing jointly, or head of household. It involves recording all income, deductions, and exemptions on entirely separate tax returns. There are some unique cases where filing separately makes sense for one or both spouses, which will be discussed below.

The new year brings endless possibility, but it also brings us back around to tax season. It can be a stressful time if you haven’t kept accurate records, or it can go by in a breeze if you’ve done all the critical planning throughout the year. Oftentimes, mistakes can come back to haunt you years later when the IRS comes to collect. Here are six tax filing mistakes to avoid.