Declutter, Donate, and Deduct

6/25/2018

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Decluttering your home and donating your items to local non-profit groups is a fantastic way to organize your home...and get a tax deduction.

Disclaimer: This information is compiled from many sources and is not intended as tax, investment, financial planning or legal advice and should not be relied upon as such. For tax, investment, financial planning or legal advice you are encouraged to consult with your personal advisers

Ready to learn how to Declutter, donate and Deduct? Read on...

Declutter

When the organizing and decluttering bug strikes, separate things out to Keep, Discard, or Donate/Recycle piles.

Keep: these should be items that are actively used, treasured, or loved.
Donate: make sure items being donating to charity are in “good or better” condition. Not only is it common sense to only donate quality items, but it’s also the guideline used by the IRS to qualify for a tax deduction. So: discard/recycle sweat-stained undershirts, but donate the dress shirts that are in great shape but just don't fit anymore.
Discard/Recycle: the hard truth is that some of the stuff in a home really is just garbage. Old stained Tupperware that doesn’t have a lid? Toss it. The piles and piles of gift bags that get saved, but never reuse? Recycle them.

Trying to figure out what you can easily declutter AND have it make a difference in your local community?

Do a quick Google search of “donation needs near me” and you'll likely hit the jackpot.
Most shelters have their immediate needs posted on their websites. Toiletries and personal care items, including travel/ hotel size, are needed at nearly every shelter, all the time.
Can’t find a local charity to take your item? Post the item with a picture in the Free section of Craigslist or a Facebook group: it works! Use caution: never disclose personal information or let strangers inside your home or garage.

Donate

Before donating, be sure you are giving to an organization that is a 501 (c)(3) by the IRS. These are organizations that are recognized by the IRS as being tax-exempt by virtue of their charitable programs.

“Big name” charities (think Goodwill, Habitat for Humanity, or the Salvation Army) are no-brainers, but if you’re unsure about a group you’re thinking of giving to, you can always check their website or a site that vets non-profit groups, like Charity Navigator.

Have big stuff to donate, but no truck and/or the muscles to get it done? Try the website Pick Up My Donation: they will find a non-profit group within 15 miles of your zip code and set up the pick-up, at no cost to you.

Be sure you get a receipt or donation acceptance letter from the non-profit you give to. Keep a file in your glove box or console to organize on-the-go receipts, then transfer them into a permanent file in the house regularly.

Deduct

Even though the standardized deduction for individuals and married couples has increased in 2018, it’s still a good idea to keep records of your charitable giving.

Keep track of what you give!

Small to medium load: a great way to keep track of items you give to charity is by using an app on your smartphone. The Its Deductible app lets you input your organization, then easily guides you through lists of items, complete with standardized values. At the end of each giving transaction, you can save the report and use it at tax time.
Large load or house/estate clean out: take the time to document your donation inventory by hand. Document the item, condition, and value. Use a standardized donation valuation guide, such as the Salvation Army one, to tally up your donation. Any Estate Clearing professional worth their salt will include this in their service package; however, if you are doing a home or estate clean out on your own, be sure to document, document, document.

get organized and do good!

Decluttering, donating and deducting is a great way to organize your home, while making a difference in your community at the same time.

Professional Disclaimer: The ideas, recommendations, and opinions on this website, blog, and made in person are for educational and entertainment purposes only, and should not be considered legal, financial, or medical advice. I am not an attorney, doctor, or licensed financial professional. Sage Organizing Co., LLC is not liable for any losses or damages related to actions or failure to act related to the content of this website, blog, or in-person discussions. If you need specific legal, financial, or medical advice, consult a professional in your area.

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