07 May 2015

Give to Charity: Top Ways for the Average Person to Donate

If you’re comfortable in your life and doing well, you’re likely quite thankful for all of the blessings you receive. Even if you work hard for everything that comes into your life, you know that there’s a little bit of luck involved, and that you could be doing considerably worse.

That’s one reason so many people like to give to charitable organizations. In addition to helping those in need you will also receive some tax benefits that can make a big difference in how much you pay.

Use our guide to help you figure out how and what to donate this year.

Give Clothing

A lot of times we buy new clothing and stop wearing certain items, even if they’re still in decent shape. When you have money and are comfortable, you can afford to do that.

You don’t have to just let those clothes sit though. Instead, donate them to a charity that will give them away to people in need or sell them for charitable purposes. You’ll get a tax break for this too.

Offer Household Items

When things stop working or you replace them because you want more efficient devices, what do you do with the old stuff? If you’re like a lot of people around the country you simply throw it away. However there is a better alternative, especially for items that are working fine.

Give them to a charitable organization that will donate them to people who need them, or sell the items to raise money for worthy causes. Many of these charitable organizations will even come to your home and pick the items up, so moving bulky things like office furniture, televisions or stereo systems isn’t something you have to do on your own.

Donate Cash

If you’re doing well for yourself you’re going to need to pay income taxes. What if you could get a break on how much you pay while helping other people out? When you donate cash to organizations like the Sing for Hope organization that’s exactly what you’ll be able to do.

Just make sure you get a receipt for your donation. If you’re not sure how tax deductions for charitable gifts work, have your accountant or a representative from the charity explain it to you.

Not all donations are the same, so understanding is key to properly preparing your taxes.

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