Spring Cleaning Tax Tips

With spring right around the corner, many people have been doing some spring cleaning around the house. Instead of bringing old clothes, sporting equipment, and household items to the dump, you should consider donating them to a local charity or thrift store. Someone will find a use for your unwanted items and you could potentially lower your taxable income if you qualify for itemized deductions. You can qualify for itemized deductions if you exceed the allowable standard deduction, which in 2011 is $5,800 for singles and $11,600 for married couples filing jointly.

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