Thursday, December 29, 2011

Donate before the end of the year for taxes :)!

 The end of the year is here! That means its almost time to file taxes too! Do you have clutter and stuff you want to get rid of?  Donate it to Goodwill!
Did you know that all items donated to Goodwill are 100% tax deductible? Pretty neat if you ask me. Donations must be made no later than December 31! Thats only 3 days from now on Saturday so get to cleaning out those closets if you are going to.
 Make a list of the items, the conditon and the original value of the item(s). When you donate the items you will get a reciept. KEEP IT. When you do your taxes, you will have to fill out Form 8283 and list the above information. The total will go onto Schedule A as noncash charitable contributions. These donations will reduce taxes owed, they will not generate a refund. The amount is included in Schedule A, and when the total on Schedule A is greater than your standard deduction, you may get a tax savings.

BUT REMEMBER! : If you itemize and owe taxes, you may get a benefit. Otherwise, there will be no tax benefit.
You can go HERE to see the suggested value of your things.



Post a Comment

Thanks for visiting! If you have any questions or concerns, please email me at! ~Bre