Oklahoma Goodwill Offers Last Minute Tax Deductions

Friday, December 27th 2013, 10:21 pm
By: News On 6

There's only a few days until 2014 and that means there's little time left to make those last minute tax deductions.

But there are some other things you should consider as the year comes to a close.

If you're cleaning out your closet after the holiday, Goodwill is one of the many places you can go to get a tax deduction if you donate.

The year isn't over yet, but accountants want to make sure you're prepared for 2014.

When the ball drops, you won't be able to claim anymore tax deductions for when you file your taxes with the IRS.

Paul Muret is an accountant in Tulsa. He says people who suffered losses in their stocks can take tax deductions for 2013, but again, there's a deadline and it's days away.

"Any charitable donations that you want to claim on the tax return you want to file for April or by April will need to be made by December 31st," he said.

Businesses can also take deductions for equipment purchased in 2013 if they qualify.

All the paperwork can be stored or sent to your local tax preparer for when it comes time to file.

"I just recommend either a good filing system a little file cabinet," Muret said, "I have a lot of people who will just scan stuff and send me electronic documents that way they don't lose track of it they just scan it throughout the year,"

At Goodwill Industries in Tulsa, a steady flow of donors are dropping off items before the end of the year.

Reporter: "What did you donate today?"

Carl Szafranski, Tulsa resident: "We donated a couch, a bike, tons of puzzles, board games, clothes and a few toys,"

Goodwill is one charity that will give you a receipt for tax deductions for donors.

David Oliver, of Goodwill Industries said, "generally speaking, we do have more donors in December who ask for a tax receipt. It tends to be a month driven by more people thinking about last minute tax deductions,"

David Oliver is hoping for more donations before the New Year.

He says giving is down because of the winter weather in December.

Carl Szafranski, Tulsa Resident, "it's good to do. This is something we do about every quarter, you know, and make sure we go through all the kid's stuff and go like that," Szafranski said.

In the Tulsa region, Goodwill operates 25 donation centers and stores.