Tax Time Approaches!

I have committed to getting our income tax information organized and to the accountant before Tony and I leave for a short trip to Florida on February 24^th!  This is a full 6 weeks ahead of when I typically have it ready – if you aren’t good at math, I normally deliver our information to our tax preparer around April 10^th and hope he has time to complete it before the 15^th!

Charitable Donation Valuation Guides

The New Albany Chamber of Commerce included a Charitable Donations Valuation Guide in their last newsletter.  It was a good reminder that I need to calculate the value of the clothing and household items that we’ve donated over the past year.   I tend to stick to a very conservative estimate to avoid instigating an audit.  However, the tax benefit is valuable and well deserved so I maintain good records and take photographs as well.

For clothing and household items, I use the Salvation Army Valuation Guide. It shows a low to high range.    There are lots of other sources – just google “charitable donation valuation guide”.  I’ll let you know if I am successful in getting everything done by the 24^th!  Wish me luck!