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TALES FROM THE CLOSET

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Tales from the Closet brings you all the reading material you need to become and expert at organizing.

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ORGANIZING WEBSITES

Use the list of resources below when its time to organize your things. No matter how big or small the job is, you’ll find any one of these websites helpful.

Hoarders Help

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It's time to remove the emotional value from the items you never use and the ones that clutter up your home. Remove the clutter and get organizational advice.

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Quick Tips

Donating Clothing, Money Helps Save on Taxes

If you want to deduct contributions of used goods made to ClothingDonations.org, the value of the deduction is approximately equal to whatever the goods’ fair market value was at the time of the donation. “You should clearly contribute, rather than throw out, old clothes, furniture and equipment that you no longer use,” Charity Navigator says. Be sure to get a receipt, however, if you plan to claim donations of used goods as a tax write-off, and if you donate money directly, the IRS will require a canceled check, credit card statement, bank statement or a written acknowledgment from the charity as proof.

When It’s OK to Get Rid of Past Tax-Time Paperwork

Sorting through your tax-time paperwork is certainly burdensome, but worse still is having to store it for years without ever knowing when it’s OK to get rid of it. Wisebread says that while you should keep a copy of each return indefinitely, taxpayers can shred most supporting documents after three years. Keep only the paperwork that lists the purchase price of any securities you own, so that you can later report any gains or losses. If you claimed a capital loss on a past year’s return, however, keep that documentation for seven years.

Filing Is Key to Organization of Tax Documents

To get your tax documents organized as a small business owner, create a desktop filing system that’s within easy reach of your workspace, says A Bowl Full of Lemons. Label folders with headers such as “Income” and “Taxes Paid,” and also create a folder for every category of deduction you plan to itemize, such as business travel, office expenses and charitable donations. And remember that your donations of lightly used clothing and household goods made to ClothingDonations.org are fully tax-deductible, since proceeds help fund veterans’ programs. Save your receipts!

Keep Your Paperwork Organized for Tax Time

As frequent readers of the ClothingDonations.org Organizing Blog know, the key to living a stress-free life is to stay organized — and that is never more true than at tax time. Whether you prepare a return yourself or have a professional do it, Bankrate says, having all of the necessary paperwork in order is crucial to filing the most accurate and favorable tax return. And if you failed to keep all of your receipts and other documentation sorted this year, you already know that this is a great time to get organized, so that next year’s taxes won’t present any unpleasant surprises.

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