Year End Tips

We’ll finish up the year with a few tips over the next week and a half with some ideas to help you get through the year working on your financial well being.

“In Kind” Charity Donations

Clean out your closet and take what you’re not using/wearing/playing with to a non-profit thrift store.  I don’t mean a consignment store.  I mean one that sells your “gently used items” and gets to keep the money.  Goodwill and Salvation Army are in most communities, but also many churches, homeless shelters, and safehouses have these thrift stores, soo.  Either make a list of the items or take some pictures that you can attach to a receipt.  Don’t just drop the items at a drop box, go to a manned collection site and get a receipt.  Than attach your list or pictures of items.  Before you give your tax documents to your tax preparer next year, find out what source he/she uses to value used items.  Total that up and include it with your tax documents.  If you can itemize, you’ll get a better deduction with the excellent documentation.  Someone needs those items and will appreciate that you gave them.  Also, you get a clean closet! 

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