Legends and Charity ... Ask TaxMama ... December 19, 2003

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Tax Information With A Mother's Touch

Published by Eva Rosenberg, MBA, EA
Volume 5, Issue 239 December 19, 2003


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	Breakfast Special

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Legends and Charity

» From: Woodland Hills, CA

Dear TaxMama:

Do you have any recommendations for end of the year "charitable" donations?

And what about this urban legend that December is the best month of the year to purchase a new car???? Doesn't it mess up your tax deductibility on auto related expenses?

Have a Wonderful Thanksgiving and celebrate with fervor before the TaxMadness of January 1 commences.

Take care.

Nick

Hi Nick,

Thanks for your ever-loving words.

I don't know about urban legends - although they are fun to scoff.

Actually, if you're looking for a new car, do your research really well on the pricing. Then, head out to the dealerships armed with information and see what they're offering.

The salesmen ARE hungry to win their annual sales competitions. Since they need to make their year-end targets, you might be able to get some deals cut.

Charities - clean house. You probably have a couple of days off for the holidays. Pile up everything you're not really using anymore. Make a good list. If they're in great condition, you may even want to take pictures. Take everything down to your favorite charity and GET RECEIPTS.

Have a wonderful holiday time.

Best wishes,

Eva Rosenberg
Your TaxMama

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