Christmas is just around the corner, and a fair share of Americans spread some holiday cheer by helping families in need. Charitable donations are more than welcome at this time of year. Here are a few pointers to make donating clothing to charity (and other items, too!) good for you, good for charities, and good for people in need.
Write It Off On Your Taxes
Good news — you can write off clothing donations on your taxes. For that matter, you can write off just about any item that you may donate to local charities. There are a few things to keep in mind, however. “Donations must be made by the end of the tax year for which you want to claim the deduction. If you put a check dated Dec. 31 in the mail by that day, you’re OK,” Bankrate.com advises. Similarly, all donated items must be picked up or dropped off before Jan. 1. Additionally, in order to write off items on your taxes, you must have written documentation. Charities will give you receipts with a valuation of your items, but you will have to request this particular service. Finally, do the work! Seventy percent of U.S. men and women donate to charities annually — and a much smaller percentage enjoy the related tax benefits.
Some Guidelines On Donating Clothes
Donating clothing to charity is one of the very best things you can do — for several reasons. First, the average American will produce four-and-a-half pounds of garbage in one day; donating clothing helps reduce waste, while also giving new people the chance to enjoy gently used items. While all clothing items are useful and welcome, consider donating less popular items, like prom dresses and suits, to keep all clothing items affordable for everyone.
You only have a few weeks left to donate items and write them off for the 2014 tax year. Make sure to get a receipt or written documentation of your donations, and donate all kinds of clothing items, including rare ones, to truly make a difference.