Comments on: Charitable Contribution Worth – Daily Tip http://www.savingadvice.com/articles/2006/03/29/10515_charitable-contribution-worth-daily-tip.html Bridging the gap between saving money and investing Sat, 11 Feb 2012 18:46:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: sue http://www.savingadvice.com/articles/2006/03/29/10515_charitable-contribution-worth-daily-tip.html/comment-page-1/#comment-1314 sue Sun, 09 Apr 2006 18:48:23 +0000 http://www.pfadvice.com/?p=515#comment-1314 FYI: When I used It's deductable, it also figures your milage to and from your home and the destination of the gift. It figures this all for you. FYI: When I used It’s deductable, it also figures your milage to and from your home and the destination of the gift. It figures this all for you.

]]> By: makingourway http://www.savingadvice.com/articles/2006/03/29/10515_charitable-contribution-worth-daily-tip.html/comment-page-1/#comment-1190 makingourway Thu, 30 Mar 2006 14:24:32 +0000 http://www.pfadvice.com/?p=515#comment-1190 Jay Gatsby, I agree with you. The deduction values from it's deductible are drawn from ebay auctions. Frankly speaking ebay is a notoriously bad place for selling used clothing and many of the items most frequently donated to charity. A used clothing store might be a more effective yard stick. I find that many of the items I submit are either higher quality, better condition or worth quite a bit more than the guidelines suggest. Now I'm not talking about claiming $14 for President Clinton's used underwear, but I do think the valuations are low from the perspective of a realistic market valuation. Also, I love the idea of a charity give away box. NC is a high tax state. Combined with being in a high tax bracket, I'm thinking you can often do well by donating vs. selling at garage sale or at ebay. Regards, Making Our Way Jay Gatsby,
I agree with you. The deduction values from it’s deductible are drawn from ebay auctions. Frankly speaking ebay is a notoriously bad place for selling used clothing and many of the items most frequently donated to charity. A used clothing store might be a more effective yard stick.
I find that many of the items I submit are either higher quality, better condition or worth quite a bit more than the guidelines suggest.
Now I’m not talking about claiming $14 for President Clinton’s used underwear, but I do think the valuations are low from the perspective of a realistic market valuation.

Also, I love the idea of a charity give away box.

NC is a high tax state. Combined with being in a high tax bracket, I’m thinking you can often do well by donating vs. selling at garage sale or at ebay.

Regards,
Making Our Way

]]> By: Jay Gatsby http://www.savingadvice.com/articles/2006/03/29/10515_charitable-contribution-worth-daily-tip.html/comment-page-1/#comment-1187 Jay Gatsby Wed, 29 Mar 2006 20:58:11 +0000 http://www.pfadvice.com/?p=515#comment-1187 Yes, "It's Deductible" was included in the $20 version of TaxCut that I used. Frankly, I don't like TaxCut (the software has some non-intuitive aspects to it), but for $20 what more can you ask? Also, I think the deduction values are a bit low, in that some of the stuff I've donated are "designer", and might fetch higher values in a consignment shop (but doing so would be a hassle). Yes, “It’s Deductible” was included in the $20 version of TaxCut that I used. Frankly, I don’t like TaxCut (the software has some non-intuitive aspects to it), but for $20 what more can you ask? Also, I think the deduction values are a bit low, in that some of the stuff I’ve donated are “designer”, and might fetch higher values in a consignment shop (but doing so would be a hassle).

]]> By: IRA http://www.savingadvice.com/articles/2006/03/29/10515_charitable-contribution-worth-daily-tip.html/comment-page-1/#comment-1184 IRA Wed, 29 Mar 2006 17:40:58 +0000 http://www.pfadvice.com/?p=515#comment-1184 It's Deductible (the software version) was included in TurboTax Deluxe this year. It’s Deductible (the software version) was included in TurboTax Deluxe this year.

]]> By: Jay Gatsby http://www.savingadvice.com/articles/2006/03/29/10515_charitable-contribution-worth-daily-tip.html/comment-page-1/#comment-1183 Jay Gatsby Wed, 29 Mar 2006 16:59:35 +0000 http://www.pfadvice.com/?p=515#comment-1183 I was always one to hold on to things I no longer used or needed, and even accept such items from other people, all with the idea that some day I'd need to itemize my taxes rather than take the standard tax deduction. In donating ~$750 worth of stuff each year, I've found a way to ensure that I get money back from the Government, rather than pay it. I was always one to hold on to things I no longer used or needed, and even accept such items from other people, all with the idea that some day I’d need to itemize my taxes rather than take the standard tax deduction. In donating ~$750 worth of stuff each year, I’ve found a way to ensure that I get money back from the Government, rather than pay it.

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