Diversity Woman Magazine

FALL 2014

Leadership and Executive Development for women of all races, cultures and backgrounds

Issue link: https://diversitywoman.epubxp.com/i/385684

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Page 58 of 71

d i v e r s i t y w o m a n . c o m Fa l l 2 0 1 4 D I V E R S I T Y W O M A N 57 Get organized Set up a system if you don't have one in place. Today, start organizing your re- ceipts and records for any expenses that might qualify for a credit or deduction. Plan donations to get deductions. When donating household items or clothing to a charity, get a receipt. If the donated value or cash value is more than $250, you need to have a receipt or a letter from the chari- table organization to prove that you made the contribution. Give Yourself a Holiday Gift Savvy moves now can save you some green at tax time THINKSTOCKPHOTOS By Sheryl Nance-Nash B efore the end of the year, all it takes is a few easy steps to maxi- mize your tax savings. Ten come April, you'll be thanking yourself. With the holidays right around the corner, you're probably al- ready strategizing about your shopping, whether for gifts, food, or decorations. Tere's a good chance you're also thinking about how to keep the family peace this year. One thing that is not likely on your mind is taxes. Of course, thinking about taxes seems onerous when you would much rather focus on festivities. But if you make a few smart moves now, before the end of the year, you can help reduce your 2014 tax bill. Here's how. Money Matters DW Life >

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