Thursday, March 31, 2011

Helpful Hint #5 - Keep Those Receipts!!



You've got to love tax season...

Congratulations to all of you who have already filed and are hopefully enjoying your refunds (or at least fitting the tax payments into your monthly budget!).

We finished up our taxes not too long ago, and as I was consulting with our tax guy he got to the charitable contributions part and asked if I spent any money on church callings in 2010.  (side note - I grew up in Oregon, and even after 10 years the Utah way of life still cracks me up - accountants asking about church callings?  hilarious.  but totally helpful.  read on...)

OF COURSE I HAVE!!! 

So we quickly went through my pile of receipts and found a few of the MANY charges that I made on behalf of my calling.  And they are tax deductible.  Gotta love the tax code.

Here's the clincher - if you turned in receipts to the Primary to be reimbursed, you can't claim the deduction.  But if you plan to keep all of the items you've invested in, you've got a write-off coming!  So get right on that for 2011, and keep those receipts! 

Now, as I work with contracts at my job all the time, I feel a pressing need to include a small disclaimer.  I am a wife and mother and medical biller and primary chorister and generally mediocre household manager.  I am not an accountant.  As you can see from my list of qualifications I've just provided you, I am not even claiming to be an accountant.  Your tax situation is unique, and you need to consult with your tax guy before you go writing off just anything.  Be smart.  OK?  Good luck, and happy spending!

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