The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Charitable deduction question||Date: 8/2/2013 4:36 PM|
|Author: Patzer||Number: 118968 of 121316|
90% of the time when someone "gives" something to Goodwill it is not because they think of Goodwill as a great charity - it's because they want to get rid of stuff from their house/garage/apartment/storage/whatever.
I'm part of that 90%. My current favorite charity for donating used clothing is Volunteers of America, but it's the same idea. However, it's really a very small part of my charitable deductions; I think it came out at an all-time high for me of ~$160 in 2012, because I lost a lot of weight and had a lot of clothes that I would have still worn if they fit.
I'm perhaps not as altruistic as some others on this thread. I regard the tax deduction as compensation for the hassle of getting something that's still usable back into the economy where someone can make use of it, instead of doing the much easier thing of putting it in the trash. The political correctness of helping the needy or preserving landfill capacity is secondary to me.
OTOH, I have put broken lawnmowers and dehumidifiers out to the curb for the trash. I try to put them out early, when there's daylight left, because they disappear before the trash collector comes. *Somebody* is getting some value out of them, perhaps fixing them up and selling for a profit. I'm fine with that, and I don't care that I don't get a tax deduction for it.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|