New year means last minute donations

MARBLE FALLS, Texas (KXAN) - Some people are spending their final hours of 2008 making sure they will get the most out of their annual tax returns. The parking lot the Good Neighbor Thrift Store in Marble Falls was almost full the Tuesday before New Year's Eve.

"December is our biggest month for donations," said store manager Shirley LaBounty.

She said the increased traffic at the donation drop-off has everything to do with tax deductibles.

"This is an Epson printer," said Iris Walker as she hauled her old computer from the trunk of her car to garage stacked with other items people had recently donated. The Spicewood resident dropped off two trash bags full of clothes and two printers that she will itemize on this year's tax return. "I can help somebody else and they can get it cheap," said Walker. "Every little bit helps."

Charitable donations are one of several last minute tax deductions people try and take care of in the final days of the year.

"We just love to procrastinate," said Reba Voskuhl who has been preparing taxes more than 30 years.

In addition to charitable donations, she recommended paying off property taxes and college tuition if you need the money now. For those who drive their own car for business, closing out the vehicle expense log Dec. 31 will pay off.

"When you're through driving for the day ,write down that end of the year mileage," said Voskuhl.

Some people have their 2008 tax returns spent before they even arrive in the mail. B & W Finance in Marble Falls said there are customers counting on their IRS checks to cover loans they took out to pay for holiday expenses.

"They're gonna come in and pay us off around their tax return time," said loan officer Julie Lyon.

For those interested in getting every penny they can, Voskuhl recommended waiting until 2009 to buy energy efficient items. That is when tax credits will be given. She said they are not being offered in 2008.