Tax Tip Tuesday

If you jumped on the ball quickly, then you might be getting a tax refund in the near future. If you are, then you might consider using some of your refund to purchase a Lowes giftcard. You can purchase any amount 500.00-4000.00 from.now until March 14th and on March 18th, Lowes will add 10% of the original purchase price to the card. I am hoping to add a storm door this year which will count as a energy tax credit in itself. If you add new windows, or storm doors in 2011, you can take a 10% credit on the purchase price up to 500.00 max.

Tax tip Tuesday!

Do you donate clothing, toys, other items to local charities? How do you decide the worth of the items? I used to jog down what I donated and valued the items at the price that I would sell them for at a yard sale. A friend told me about itemizing software that is offered by most online filing sites. This year I kept a list of the items I donated and the shape that they were in. I used the itemizing software and wowza...the value it places on the items was so much higher than what I had calculated in the past! Leather jacket was worth $20, sweater was worth $20, and baby equipment was of good value too! All in all, my tax impact was so much more than previous years! Don't "leave money on the table"!!!!