A Guide to the Value of Charitable Donations

If you are thinking about giving to charities, then make sure you are giving to a charity that you believe in. There are so many charities available that you have a plethora of options. If you are looking to give to used clothing donations, then it is important you understand the value of charitable donations.

Many donated products are given new life in developing nations where individuals purchase used American goods for pennies of their original price. Internationally, more than 14.3 million tons of donated American textiles help clothe people and families worldwide. Thus, the value of charitable donations that come in the forms of used clothing really has plenty of value for these people.

Americans recycle or donate only 15% of their used clothing. This is one of the easiest ways to give donations that pick up at home. You can actually give to a purple heart pick up a donation that is going to give you maximum convenience. Here are more facts on the true value of charitable donations:

Charitable Donations Can Help People In Need

Almost Forty-five percent of recycled clothing is worn as secondhand clothing. To those who are posh or from a higher amount of money with their family may not believe in the idea of wearing secondhand clothing. However, these people do not understand the value of charitable donations and how much they can help those in need.

Almost 100% of household textiles and clothing can be recycled, regardless of the quality of condition. So instead of throwing away old clothes and items like this, you should look to donate them to charities that are located near you. That way, you can help people with the value of charitable donations.

About 4.7 billion pounds of clothing are donated by Americans each year. Total giving to charitable organizations was $358.38 billion in 2014. About 43% of those surveyed gave more during the holidays than the rest of the year; 44.4% reported giving about the same. No matter what time of year you decide to give to people who need help, you are going to seriously provide people with a great amount of help.

Charitable Donations Can Be Used As Tax Write-Offs

If you are someone that still needs extra help understanding the true value of charitable donations, then this section is for you. There are people who decide to donate to specific charities because these donations can come back as tax write-offs for said donator. Thus, Smart givers only support groups granted tax-exempt status under the section, 501c – 3, of the Internal Revenue Code.

Make sure you have an idea of how to fill out your tax forms before you decide to use these items as write-off options. Understand that the IRS requires a qualified appraisal to be submitted with your tax return if you donate any single clothing or household item that is not in good used condition or better, and for which you deducted more than $500.

Make sure you keep your receipt when you decide to give to charities so you know the value of charitable donations. Remember, any charitable donation worth more than $250, which does include donations of clothing and household items, will require a receipt to write off on your taxes. Men’s overcoats and suits are worth approximately $60 as a tax write-off. A coffee maker is generally worth $4 to $15 as a tax write-off.

In Conclusion

Textiles account for 5% of municipal waste because only about 15% of them are recycled. The average American buys at least twice as many pieces of clothing as 20 years ago. Anyone that is going to donate an item to a charity needs to make sure that they are on top of their understanding of the value of charitable donations. That way, you can get the most out of your donation process!

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