Читать книгу The 10 Minute Tidy - Shannon McGinnis - Страница 14

It is of great value for you to itemize your donations because you may be able accumulate a wonderful tax deduction by the end of the year. Check with your tax advisor to determine whether an itemized list of donations would qualify you for a tax benefit. It is a good idea to itemize your donations anyway, because your situation might change mid-year so even though you don’t qualify now, you may later in the year.

If you decide to itemize your donations, make a list of all of the items in each load of donations that you take to the donation center. Your family can even help you create this list if you have a clipboard, pen and paper next to your bag of donations. Every time you have a full bag be sure that you have listed the items you are donating before you drop it off. Be sure to get and keep the receipt from the donation center.

Using your list of donations, you can hand write an estimated value next to each item. The donation values are approximately 25% of the original cost of the item. Your list should also include how many of each item (i.e. 6 pairs of women’s dress pants) and the condition they are in (new, good or fair). The Salvation Army website also has a general valuation chart, www.salvationarmyusa.org(Donate-Receipts-Valuation Guide).

It is also very easy to use the It’s Deductible™ program in Turbo Tax™ for inputting this data, www.turbotax.com. You select the items donated, insert the quantity and quality, and the It’s Deductible™ program gives you a list of the tax-deductible value of each category for that donation. Attach your receipt from the donation center, the printout from It’s Deductible and file it with your other tax return items.

For donations of over $600, it is also advisable to take a photo of the items (in piles, bags, or boxes) to substantiate your contributions if you ever need to prove it for tax purposes. Print the donation photos and keep the printouts with the receipt and itemized list from It’s Deductible™. Enjoy saving money while getting rid of the stuff you no longer want!