The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Charitable deduction question||Date: 7/30/2013 6:51 PM|
|Author: foo1bar||Number: 118932 of 125190|
Some people do know the mission of a charity and do give to support that charity. Sometimes those donations are in the form of property, not cash.
Yes - sometimes they do.
The point was about someone where ALL of their donations are household goods.
For the guy whose only donation is Salvation Army/Goodwill/St. Vincent dePaul, and has no donations other than household goods (Nothing to church or another religious org. Nothing to any educational institutions/organizations. Nothing to any other charity.)
Which is more likely
A> The shirts/pants/household-goods/etc going to the Goodwill instead of the dump because he gets a tax writeoff.
B> He really appreciates the mission of Goodwill, and finds this to be the best way for him to support it.
I'd bet 99 times out of 100 it's A.
Because someone who really appreciates the mission of Goodwill, is very likely to appreciate the mission of other charities. And they'll make donations to those charities.
I appreciate Goodwill - and I certainly donate stuff to them that I no longer need - and I happily document the highest reasonable price I could get for the item and use that on my taxes. And frankly it's probably because of the tax deduction that it goes to them sometimes instead of the dumpster. (I'm not going to spend 1/2 hour of time selling on ebay a $5 pair of shorts) But that isn't my only charitable giving either.
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