Most donation drop-off centers accept items year around, and the busiest time is the final six days of the year. At this time, twice as many people take donations to a tax-deductible charity organization to get a last-minute tax receipt. Why? Items donated to this kind of charity before January 1 is usually deductible on that years’ tax return.
Things to keep in mind when donating to a tax-deductible charity organization any time of year:
- Donors who want to claim a tax deduction should request a receipt from the attendant when dropping off donations. The IRS allows a deduction for each item, but it is up to the donor to estimate each item’s value.
- Have an inventory of your items ready before you drop them off.
- Remove all hangers from clothing before donating.
- If you have a single donation worth more than $500, you will need to complete IRS Form 8283.
- If you have a single donation worth more than $5,000, you will need a qualified written appraisal.
- Take a glance at Goodwill’s Donation Valuation Guide
Find out what organizations such as Goodwill DO and DO NOT accept at http://www.goodwill.org/get-involved/donate/donation-acceptance-guidelines/
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Bella Organizing is a member of the National Association of Professional Organizers (NAPO). We serve the greater SF Bay Area: San Francisco, East Bay, South Bay, Marin County, Silicon Valley, Santa Cruz, and Monterey Peninsula. Join Bella Organizing on Facebook.