Deducting your Donations – What’s Your Stuff Worth?
The biggest, most important part of the organizing process is simplifying, and that means getting rid of what you’re not using. Eliminating can be hard.
Wondering if you’ll need it again, not wanting to just toss something of value and of course, the guilt that goes along with dealing with gifts and family heirlooms. But the truth is, it’s your stuff and you’re in charge of what you want and what you don’t want.
At some point, hard decisions need to be made about what’s important and what we really want to hold on to. Getting our cast-aways into the hands of someone who can really use them helps makes the process easier.
OurWhere to Donate Stuff page is a wonderful resource featuring organizations that gladly accept donations. We provide their contact information, what items they are seeking and whether they pick up or if you have to drop off. Another key part of donating is getting credit for the value. Value holds people back from actually eliminating because they want what it’s worth. There are some great sites that can certainly help you sell your stuff like eBay, Craigslist and LetGo, but it takes time and effort to keep up with. So you need to decide, is it worth your time, or is it easier to just take the donation. The IRS allows you to receive credit for items you donate and they assign values to work with, so it’s similar to selling, you just take the deduction rather than the cash.
The Salvation Army has a Donation Value Guide that gives you a comprehensive list of many donate-able items and the high and low values that are acceptable. Intuit has a cloud based program called It’s Deductible that includes an app to keep track of donations for each year and it also gives you values acceptable from the IRS.
When you work with a Chaos To Order organizing expert, we will bag up your donations and also itemize them. We can also make arrangements to drop them off at a nearby donation center when the appointment is finished or arrange for a pickup. Check with the office when you schedule your appointment and we will help you get that extra clutter out of your space!