Apr 11, 2019
Keep Paperwork Long After You File
The Organizing Blog urges you to do a little bit of #decluttering every day, except when it comes to financial documents. The IRS asks that you keep tax returns and supporting documentation for three years after you file, meaning you should still have all of your 2015 paperwork on file today. If there was a year […]
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Apr 10, 2019
Valuing Donated Goods for Tax Deduction
Major tax-preparation programs and applications from companies such as H&R Block, TaxAct and TurboTax offer valuation guides for used goods like those you often #donate to ClothingDonations.org, offering a range of values based on condition. Each pair of pants, for example, is worth about $5–$12 at resale, and that amount is deductible. Be forewarned, however, […]
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Apr 9, 2019
At Tax Time, Decluttering Is Its Own Reward
Your 2018 tax returns won’t reward charitable #donations quite as much due to reforms included in the 2017 Tax Cuts and Jobs Act, which boosts the standard #deduction and makes itemizing less favorable for many taxpayers. But #donating used clothing, household goods, furniture, books and other items to ClothingDonations.org can at least encourage peace of mind […]
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Apr 8, 2019
Claim a Deduction for Your Donations
When you #donate a substantial amount of used goods such as clothing, housewares, furniture, books and other items to ClothingDonations.org, you can claim a charitable deduction on your federal 1040 form if you itemize. The Internal Revenue Service (IRS) allows taxpayers to deduct the fair market value for such goods — an estimate of what […]
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Mar 28, 2019
Spring-Clean During the Spring Rains
There’s no better time than a rainy spring day to “clean and organize something really well,” says Apartment Therapy. The site suggests scrubbing and #decluttering the kitchen cupboards, sorting through a linen closet and organizing the home library, but there are likely a number of areas in your home that could benefit from a carefully […]
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