’Tis the season for giving
Make end-of-year giving effective and deductible
You don’t have to be rich to give back to your community. Giving to your favorite nonprofit organization does not require a lot of planning or even a lot of cash. There are several simple ways that you can make a donation this year.
Purchase things from a nonprofit’s wish list while shopping.
Some nonprofits have wish lists on their website or on online shopping sites such as Amazon. Ask your favorite organization for a copy of its wish list and purchase one small item every time you shop for your own goods. Determine if their items come from the hardware store, the grocery store, or an office supply store, and make a commitment to purchasing one item from the list each time you need something from that store. Keep the receipts from these donations, and you can take the tax deduction when you file your taxes.
Make a donation online.
There may be no easier way to donate to your favorite nonprofit than to make a donation online! Sometimes they even offer the option to charge your account automatically each payday.
Save your change all year for a donation.
Almost everyone has a change jar. Some people collect that silver change for special treats, vacations, or even a laundry fund. Saving all of your change throughout the year and donating it to a nonprofit organization at the end of the year means you can make a donation even when you’re on a budget. This is an especially good way to teach children about giving
Donate old clothes or items you don’t need.
Many nonprofits run thrift stores to fund their activities. The Goodwill Industries may be the most well-known, but there are most likely also local organizations that run secondhand stores in your area. Collect your gently used clothes, small appliances, dishes, blankets, furniture, and other items, and make a list of each item you are donating. When you drop them off, they will give you a receipt as well as paperwork to determine a range for how much each item is worth. You can estimate the value and write it off as a tax-deductible donation on your taxes.