The Proper Way To Donate Stuff You Don’t Need
As you pack things for your move, you’ll notice a lot that you no longer need but could be valuable to others. Clothes, furniture, electronics… anything really. As long as it’s not broken or gross, it likely can be donated.
There are three benefits to donating…
You help others in need.
You get rid of things you don’t use.
You can get money back with a nice tax deduction.
So how do you actually donate?
Don’t have time to drop it off?
How do I deduct charitable donations?
The IRS has eight tips for deducting charitable contributions that you should look at before donating. In order to properly make the deduction you will have to value your goods. Check out Goodwill’s Valuation Guide for a rough estimate of what your donations are worth.
That’s it! You’re able to get rid of some stuff, pay less in taxes, and help other people in need. And moving is a perfect time to do it.
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