Monday, December 29, 2014

Are you Ready for Tax Time, Louisville?

Ringing in the new year means gathering up all your financial information for tax preparation. The last week of December is the time to make sure you have completed all of the transactions for the year and organize your financial records. You still have a few days to take advantage of year end tax benefits.

Is Your Wallet Too Fat?

If you let your favorite local charity take your extra money off your hands in 2014, you will be able to write off the contribution on this year's tax return. If you don't have a favorite, consider giving to one of the local animal shelters or homeless shelters. If your passion is children, Home of the Innocents at 1100 E. Market Street may be the right choice. Music lovers may choose to support the Louisville Orchestra. The choice is yours to make, but time is running out to realize the tax benefits for 2014.

Is There a Shredder in Your Life?

Post holiday sales are insane. If you don't have a shredder, now may be the time to get one cheap. Put a shredder on your shopping list and check the prices during the after-Christmas sales. As you sort through your financial documents and old records, shredding the unwanted as you go will keep you on top of the clutter. You may decide to keep tearing everything up by hand. If not, you will hopefully save a few bucks on your purchase during the last week of December.

Are Your Closets Overly Full?

Load up your unwanted things and get them to donation centers during the last week of December. Those receipts they hand you equal tax deductions for 2014. Put them all together and make notes about the 2014 donations. What was donated and its value are all information you will need when you start to prepare the tax forms. Doing it while it is still fresh in your mind will lead to a more accurate accounting of the donation. If you are in a hurry, snap a few photos of the items.  Print and attach to the receipt for a quick reminder at a later date.

About the Author:  Joe Hayden is the Team Owner and Manager of the - Your Louisville Real Estate Experts!

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