Wednesday, April 22, 2009

Am I entitled to Tax Benefits?

Donating items is a great way to help others out and you can also get tax benefits for it. When you donate food, clothing, or even vehicles you need to get a receipt for it. There are rules that apply regarding how much you can deduct though so make sure you discuss this with your tax preparer.

If you work from home you may be able to take additional tax benefits there as well. Often you can make deductions for electric, supplies etc as you are a home office worker. Your tax preparer can assist you with this as well.

It may seem like a daunting task, but you want to get all the verifications you can for your taxes. Take advantage of the various benefits offered to you so you can lower your taxes and research what you are entitled to. Maybe that will make tax time something you look forward to instead of something you dread. That means extra money in your pocket for other things.

For more on this business article or Am I entitled to tax benefits?