I almost had a wreck driving through the Plaza recently, when I spotted 7 people, wearing 7 helmets, driving 7 Segways in a row! The looks on their faces were priceless. I was amused and curious, to say the least. Come to find out, the hottest transportation on two-wheels hit the Country Club Plaza late summer. The new Segway Store, located just under the deck of McCormick and Schmidt (446 W. 47th Street,) is offering 90 minute "architectural tours" of our favorite outdoor shopping mall while driving this relatively new form of human transportation. It costs 50-bucks for individuals or $250 for a group of six. Both include a tour guide. Could be a fun escape for the office crew on a Friday afternoon! Or just a crazy adventure with your girlfriends! Call ahead before you go. 816-531-0600.

The signs are everywhere. And they may be tempting you to pull out the junk from the basement and the rafters to have your own garage sale. But before you do, consider another option that might be less of a headache and more valuable at tax time.

As year end approaches, it is time to think about taxes. We all want to maximize our tax deductions to reduce the amount of taxes we will owe on April 15th. Those old clothes in boxes in the basement and your overstuffed closet may be a great tax deduction. Or, should you have a garage sale? Do you have the time to spend setting up a garage sale? Most of us don’t have extra time. So, what can you do? Try giving it all away and take the deduction on your taxes.

So, how exactly do you give your clothing away and take that deduction? First, get some paper, a pen and some trash bags. As you throw each item into the bag, write it on the paper. Make hash marks to keep track of how many of each item you are giving away (For example: ladies blouses, kid's jeans, men's suits). Then, load your car and drive to your favorite charity or thrift store that accepts clothing. Ask for a receipt. On the receipt, write the date of the donation and how many bags of clothing you donated. Staple this receipt to the list of items you gave away. Save the receipt and list of clothing for your tax preparer who can help you value your items.

If you choose to value the items yourself, IRS Publication 526 states these rules. “There are no fixed formulas or methods for finding the value of items of clothing. You should claim as the value the price that buyers of used items actually pay in used clothing stores, such as consignment or thrift shops.” With this rule in mind, just how much is that pair of jeans worth? Take a trip to your local thrift shop. Don’t make the mistake of using garage sale values. Thrift stores charge much more than a quarter for a t-shirt. Make a list of the average price of items you will be giving away. Or, if time is limited, go to the www.itsdeductible.com web site. This site sells software, compatible with turbo tax, that give you the fair market value of donated used clothing, household items and other charitable donations.

To claim your donated items, you must be able to itemize your deductions using Schedule A on your tax return. If you claim the standard deduction, you can't use Schedule A. Don't be afraid that these deductions will flag you for an audit. As long as you have records as stated above, your deduction is valid. You're not limited to $500.00 per contribution. You can deduct the value you calculate as the fair market value of your deduction. Only contributions actually made in 2004 count for 2004 taxes.

For more information about valuing donated goods, charitable contributions and your taxes, you can e-mail the contributing writer at hamptoncpa@socket.net.

Tune in to HotTalk 1510am on Wednesday, March 2, from 9-10am as we learn from two Kansas City journalists, Katie Van Luchene, publisher of KC Luxury Living & Fine Home Design and Joyce Smith, business reporter for the Kansas City Star. We'll discuss what it takes to attract positive media attention. And get the latest buzz about their business.

Stick out your pinky and join it's all about HER for High Tea for High Fashion. Tuesday, April 12, from 3-5 pm at the Mission Hills Country Club.
A benefit for the Missouri Women's Business Center which helps women build financially sound businesses through education. But the event is all about color, style, food, fun, camaraderie, and prizes! For tickets call 816-235-6146 or go to www.missouriwbc.com.