Apr 15, 2021
Clothing Donations Are Deductible
If you choose to itemize deductions on your federal income taxes, remember that all of the extra stuff you donate to ClothingDonations.org has a deductible value. Itemize your contributions, then calculate and deduct their fair market value from your returns using a long-form 1040 and Schedule A. Cash gifts and mileage driven on behalf of a […]
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Apr 14, 2021
To Itemize or Not to Itemize?
Most people take the standard deduction on their tax returns ($12,400 for single taxpayers or $24,800 for married taxpayers filing jointly), but if you have qualifying expenses that exceed those figures, you can itemize and pay less money in taxes. If your tax situation places you at the border of standard and itemized, TurboTax suggests […]
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Apr 13, 2021
Contribute to a Retirement Fund to Save on Taxes
Year in and year out, making a contribution to an individual retirement account (IRA) offers a substantial tax deduction that you can take up until the filing deadline. If you are under 50, you can contribute up to $6,000 to a traditional IRA for 2020, or up to $7,000 if you are 50 or older. […]
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Apr 2, 2021
Give Yourself a Dose of Digital Minimalism
Your home may be the very picture of #minimalism after you used all of the at-home time in the last year to #declutter and #donate your extra stuff to ClothingDonations.org. But your digital life may also need a good dose of minimalism. “Distracting ourselves with videos, TV episodes and quick online reads is a poor […]
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Apr 1, 2021
It’s Time to Shed All of Your Possessions
#Minimalism means giving up everything you own. April fool’s! While the concept does include letting the things that don’t bring value to your life go, minimalism is really about giving yourself more time, space and freedom, Simple Lionheart Life says. You can still have a collection or hobby as long as it brings joy and […]
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