Are you ready to do some spring cleaning? I know I am!
One of my goals this summer is to do some “spring cleaning.” Since most of my spring is spent doing taxes and wrapping up tax season, my spring cleaning is going to have to start in July this year.
Although our house is well maintained by my wife – she has the fun job of picking up after me and the kids – we always seems to find items around the house we don’t have a use for anymore. And I think we’re about ready to do go through the house again.
I know some people enjoy doing garage sales and/or selling things on Craigslist or eBay, but for some reason, I don’t. If you enjoy selling things through those means, than by all means do it, you may even do better than the tax deduction you could receive by donating.
However, if you’re like me, and you would rather donate to Goodwill or some other charity, than here are some tips for you that could save you time and money at tax time.
Things to do before you donate your goods that could save you time and money on your taxes!
1. Take a quick picture of what you’re donating.
2. Take a quick inventory. Count all shirts, pants, books, etc.
3. Use this valuation sheet from Goodwill to help determine the value of your goods.
That’s it!
Above all, keep it simple!
I’ve seen some people spend hours on figuring out the cost of everything. If you enjoy that kind of stuff, than by all means have fun. But if you’re like most people, keep it simple, and don’t stress.
One more thing to keep in mind – for now, the only way to receive a tax deduction on your tax return for donating goods to charity is if you itemize. If you have any questions regarding this, please feel free to contact me anytime.
*Please keep in mind that all the information I post on this site is for general purposes only. I understand that every person’s situation is unique and should be treated as such. If you would like more information about how something listed in any of my posts specifically affects you, please feel free to comment below, email me, or call me anytime.