The end of the year is a time for people to reflect on the last 12 months and to make new year’s resolutions for the next 12. It is also a time for end-of-the-year giving. A big part of reflecting on the past year is being thankful for all that we have and sharing that fortune with people in need, whether it be monetary, household items or charitable clothing donations. No gift is too small for donations for non profit organizations, and an item that we may no longer have any use for could even change the life of another person. Making donations for non profit organizations can have a great impact on the lives of others, and many donations are even tax deductible. Making a tax-deductible donation is easy if you follow the three steps below:
- Organize Items – The first step in making a donation is sorting through items that you no longer use or you think someone else would make better use of. If you have a lot of lightly used clothing that you no longer wear, go through them and make a pile for donations. Maybe you have household appliances or electronics that have been sitting in your attic or basement, untouched for years. Take these items out of storage and add them to the pile. Once you have everything together, organize them into bags to donate.
- Find a Drop Off – Depending on the organization, they may have various drop off locations for charitable donations or they may even arrange to pick up donations from your house. Hop on the website of the organization you’re donating to or give them a quick call to see how they do things. If you luck out and they happen to collect donations from your home, all you will need to do is arrange a pick up time!
- Collect a Receipt – While you’re sorting through items to donate, it is a good idea to make a list of the approximate cost of each item, as this will be important for tax deduction purposes. Keep in mind that even gently used items lose value after purchase when making your estimates. Some organizations have approximate prices of various items on their websites to make this easier. Whether you drop items off or someone comes and picks them up, make sure to get a receipt of your donations for non profit organizations so you can claim these items on your taxes.
The end of the year can be a hectic time for people, but taking the time to collect donations for those in need is a worthwhile effort. If you have clothes or appliances that you haven’t used in years, consider how donating them could make a huge difference in another person’s life. More info like this.