Wednesday, December 19, 2012

Year End Tax Tips

Gosh another year flew by already.  Instead of working on new years resolution, you might want to take this time to get some things wrapped up and get ready for 2013.

Are there items on your to do list that you've been avoiding to complete?  Just do it.  Sometimes it's more stressful having the tasks hanging on your shoulder. (three more hours of classes to go...)  This leads me to my next item to be completed before year end:

If you itemize deductions on your income tax return, it's a great time to clean out the wardrobe and donate things you no longer wear or use to a qualified 503(c)(3) organization, such as Goodwill. For tax record keeping purposes, it's also good to get into the habit of making a list and note the condition of the items. Since digital cameras or cell phone cameras are so handy these days, I suggest taking photos of the items as well.  Be sure to ask for a receipt for your records!  Click here for more details about charitable contributions.

Once your itemized deductions are ready and projects wrapped up, don't forget to kick back, relax, have some hot coco, enjoy the cold weather and reunions with friends and family. <3t


All information provided here are intended as a convenient source of tax information. This information is general in nature, is not complete, and may not apply to your specific situation. You should consult your own tax advisor regarding your tax needs.

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