The dreaded junk drawer, the garage we just can't manage to squeeze our car in, and closets that, if opened, may cause a serious health hazard. Those are all familiar problems but how do you solve them?
We could clean them out or throw them all away - but who really has the time? And would you really want to part with that prized trophy you earned for ballet from your college days? What a waste!
Well, no need to worry my little pack rats, because I have the perfect solution to make room for the next batch of completely unnecessary matching checkered sock/scarf sets. What is it I hear you cry? It's to DONATE!
The IRS gives us a tax break for donating household items or clothing that is considered to be in "good used condition". So, although most of us might not know the first thing about donating that’s ok. Its actually refreshingly easy and quite rewarding, both on your pocketbook and your soul.
So now that you’ve decided to donate don’t miss out on the opportunity to get kudos for doing so in the form of a tax break. All you have to do is save all your bank records, cancelled checks and written acknowledgements of cash contributions that show the amount of the contribution, the name of the organization and the date.
For more information watch my video on Charitable Donations. You can also view other tax tip videos at www.libertytax.com.