How To Get Money for Your Used Clothing

How To Get Money for Your Used Clothing
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I hate to be the one to bring it up, but you have about seven weeks to file your federal income taxes for tax year 2008. Midnight on April 15, 2009, is the deadline. If you itemize your return, I trust you are working hard now to determine each and every tax deduction to which you are entitled. Now more than ever, you want to make sure you are paying only the taxes you are required to pay and not 1 cent more.

When you itemize your tax return, you are allowed to deduct the fair market value of the items you donate to charity. How much should you deduct? If you overstate the value, you risk an audit, penalties and interest. If you underestimate, you pay more taxes than you should.

"Money For Your Used Clothing -- Tax Year 2008" is a 64-page booklet that provides uncertain taxpayers with certified valuations for more than 750 clothing and household items commonly donated to charity, in accordance with the current Internal Revenue Service guidelines. This is a comprehensive guide to valuing your non-cash charitable contributions for the tax return you will file for tax year 2008. Every year, this booklet is revised and updated to reflect the current year's values.

If you itemize your deductions on your annual income tax return, this book will save you hundreds of dollars. It is also a workbook that explains six simple steps for documenting donations and tells how to receive a tax windfall without waiting to file a tax return.

I have relied on certified public accountant William Lewis (author of this book) to help me assign market values to the items my husband and I donate to charities.
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We can document that we have been able to deduct thousands from our tax returns over the years. Every year, we donate many books and magazines to our local public library, all of which are deductible. When donated to an IRS-recognized charitable organization, clothes and household items in good condition are deductible, as well.

Because this booklet saved my family so much money on our taxes, not to mention saving us from countless headaches, we began offering this resource to our readers for sale in the Debt-Proof Living bookstore. Believe me; if you itemize, the cost of this book is the best money you will spend. It not only will save you hundreds on your taxes but also comes with an audit protection guarantee, which, in my book, is priceless.

The cover price of "Money For Your Used Clothing -- Tax Year 2008" is $25. However, we have arranged for a discounted price of just $20 for "Everyday Cheapskate" readers. Order online at www.DebtProofLiving.com (click on "Bookstore"), or call 1-800-550-3502, Monday through Friday, 9 a.m. to 5 p.m. Pacific time.

Mary Hunt is the founder of DebtProofLiving.com and author of 17 books, including "Debt-Proof Living." You can e-mail her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. To find out more about Mary Hunt and read her past columns, please visit the Creators Syndicate Web page at www.creators.com.
COPYRIGHT 2009 CREATORS SYNDICATE INC.