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Donate your stuff for a tax write-off now!

SoulAssassin

SoulAssassin

Diamond Member
Got a pile of free tshirts you got from AMD or by pre-ordering some game? Still got the P/100 w 14" monitor collecting dust somewhere? Drop them off at the local Goodwill/Salvation Army/whatever now to claim the tax writeoff for 2005. Assuming you're in the 25% tax bracket and not taking the standard deduction you could get up to $150 back in your tax return for each computer you donate!


List of recommended values from the Salvation Army: http://www.salvationarmysouth.org/valueguide.htm

Note: that this is a reduction in your taxed income, not a straight bottom line deduction, IANA tax advisor, consult your financial consultant if you have any questions, blah blah blah.

Make sure you wipe those drives first! http://www.goodwill.org/page/guest/abou...ate/donations/tipsfordonatingacomputer

 
We jsut dropped off two more bags of old clothing too. They take all sorts of stuff, not just computers!
 
How can I find drop-off locations in my area? I searched on the Salvation Army site and got Charlotte for the entire North Carolina! That cannot be right. There must be more locations.
I am not going to drive to Charlotte to drop off 4 pairs of pants and 5 shirts!
 
OK, I found lots of them (Salvation Army) in my area.

Do I need to get a receipt for the tax return?
 
i donate at least 3-4 times a year to the sal army, why clog the closet when someone who can really use the stuff os out there somewhere.
 
Originally posted by: Navid
OK, I found lots of them (Salvation Army) in my area.

Do I need to get a receipt for the tax return?
Click to expand...
you need to itemize the form and get it stamped by the donation center for tax purposes.

 
Originally posted by: hornet2060
Originally posted by: Navid
OK, I found lots of them (Salvation Army) in my area.

Do I need to get a receipt for the tax return?
Click to expand...
you need to itemize the form and get it stamped by the donation center for tax purposes.
Click to expand...

i know the goodwill I go to doesn't stamp the receipt or anything like that. You fill out a carbon copy form, take one/leave one, and write the value on the copy you keep. But yes, you should get a receipt.

You can find goodwill drop off locations at http://www.goodwill.org.

 
I like the charities that come to your house and pick your items up. They just leave a blank receipt for me to fill out. Too easy!
 
Originally posted by: Navid
OK, I found lots of them (Salvation Army) in my area.

Do I need to get a receipt for the tax return?
Click to expand...

you just need one not for filing but for if you get audited and they ask for a receipt.
 
Originally posted by: Navid
How can I find drop-off locations in my area? I searched on the Salvation Army site and got Charlotte for the entire North Carolina! That cannot be right. There must be more locations.
I am not going to drive to Charlotte to drop off 4 pairs of pants and 5 shirts!
Click to expand...

You can donate to any charity/church, etc.

Note: One must itemize using the 1040 Schedule A to get any benefits other than a warm fuzzy.
 
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