What the Easter Bunny Has to Do with Filing Your Taxes
Now that’s it’s Monday, Easter is officially over. There’s leftover ham in the fridge for sandwiches, along with some hard boiled eggs in shades of purple, green, and electric blue. (Yes, they’re okay to eat!) Candy wrappers may be scattered around the house, along with some renegade shreds of plastic grass. The other thing that may be lingering following the Easter festivities is an Easter dress or suit from your kids. Here’s the problem: you can’t resist buying those darling Easter clothes and showing off your lovely children, but now you’re stuck with nice clothes that may not be able to be worn again, and that your young ones probably won’t fit into next year.
If those indulgent Easter clothes are making you feel a little guilty, there’s a great solution! You probably know exactly how much you were able to deduct from your taxable income this year. Wouldn’t it be nice if you could up that number next year and hopefully drop into a lower tax bracket? Of course it would.
So, take those lovely Easter dresses, suits, and wacky hats and donate them to charity. Whether there’s a local donation center you know of or you want to go with the trusted name of Goodwill, gently worn clothes are excellent items to donate. Best of all, you’ll get to deduct the estimated selling price of the items from next year’s taxes. (Be sure to get a receipt for your records each time you donate.)
Donating clothing is a great way of helping your community, and lets you continue the giving spirit of Easter just a little longer. Got more stuff sitting around now that you think about it? No problem. You can often call your local service and request a pick-up. From old furniture and appliances to clothing and even games and toys that are no longer used, they can all be put to good use. Even better, they may be able to help you lower your tax bill next year. You know what that means, right? More cash for next year’s Easter clothes and bigger chocolate bunnies!
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