Tax Deductions

When household goods, such as electrical appliances and furniture, are donated to charity, they can be written off on your taxes. In order to include the value of household goods on your income...

The Internal Revenue Service Publication 526 states, "If you contribute property to a qualified organization, the amount of your charitable contribution is generally the fair market value of the...

The most effective strategy to minimize income taxes each April is to think about it all year long. Donating your time and belongings to charitable organizations offers potential tax deductions...

According to the Internal Revenue Service, fair market value (FMV) is "the price that a property would sell for on the open market. It's the price that would be agreed on between a willing buyer...

Cleaning out your closet is always a good thing, but how about if you could get a tax break for doing it? It's true, clothing can be donated and taken as a tax deduction. However, there are a few...

Donating unwanted clothing to charities is a wonderful way to help people in need. This simple act also gives you the benefits of a tax deduction and less clutter in your home. To avoid trouble in...

The easiest way to figure out the value of your clothing is at the beginning--before you donate. You can find a valuation sheet for donated goods online, like those listed below for the Salvation...

Donations to charities can be an essential part of anyone's basic financial planning. Donations can help you to advance a cause you believe in, clean out unwanted clutter from your home and even...

When you donate non-cash items to a charitable organization it is frequently better than trying to sell the item on eBay or just trashing it. The charity benefits and you can usually claim donated...

Did you drop off a bag of unwanted clothes and boxes of unwanted stuff at a thrift store this year? Learn how to turn this act of charity into a charity deduction and pay less taxes.

The best way to maximize your profits on "yard sale" items is to donate them.

It's tax season again! Get tips for filing your gifts this year in this free video clip about tax deductible items.

Need online tax help? Get tips for understanding estate taxes in this free video clip about tax deductible items.

Charitable contributions of property must be valued at a price which a buyer would be willing to pay. Generally, the value of used clothing is far less than the original cost, but some items hold...

Charitable contributions are not just a wonderful way to help those around us. They can also be used to help reduce personal tax burdens. When your contribution is item oriented instead of cash,...

If you donate physical items - a couch, refrigerator, clothes, etc. - to a qualified charity that will use the donation to further its exempt purpose, you can take a tax-deduction value equal to...