Better now than December 31…
Nov 14, 2009 Tax Strategies
TweetPassing along an opinion piece published on the SouthBend Tribune website, here is a quick list of “Tax ToDo’s” before the end of the year. Here is an annotated list from their posting.
- This is the perfect time to collect what you don’t need or want and make a donation to your favorite charity organization. IRS Publication 526, Charitable Contributions and Publication 561, Determining the Value of Donated Property are your best references. You will need to complete IRS Form 8283 for non-cash contributions. Remember that cash or property contributions of $250 or more will need a WRITTEN receipt that includes both value and description of the donated property. Organizations like Goodwill Industries, the Salvation Army, and local groups recycle many contributions. You add value to what you don’t need or want as a personal tax deduction, employment for charity workers, and either free or affordable gifts to those who are suffering hard times in this economy. Bring your donations to these organizations BEFORE Thanksgiving and don’t forget to keep your receipts.
Tags: 2009, Energy Credits, Sales Tax
