$5,000 tax deduction for “trash” LOOP HOLE
If you don’t like paying taxes you are going to love this. And before the trolls and pissants craw out, this deduction was on my last audited tax return. I believe true professionals will find this information useful.
Don’t throw anything away unless it has no value such as most kitchen garbage and used pampers. Get yourself a good program like “Deduct it”, or “Authorized donations”. Instead of putting your unwanted cloths and linens in the trash, donate them to the Goodwill or local charitable thrift shop. Get a receipt and then let your software fill in the value of your donations. Do the same when you give your aluminum cans to the Boy Scouts or drop off a mismatched place setting to a local church’s yard sale. If you participate in can food drives, get a receipt for what you turn in. If you shop specifically for items to donate, you can deduct the full value of the Grocery Store receipt.