Wednesday, November 9, 2011

Go Green by donating

Donate clothing and household goods.
Donate clothing and household goods to the environmental nonprofit of your choice. Many charitable groups, including those dedicated to saving the planet, will take such gifts.

On the pro-environment side, the organization can sell the items in its thrift shop, producing needed income to keep operating. As for your finances, such donations are as tax-deductible as cash gifts to approved groups. Just make sure the donated items are in good or better shape or the IRS could disallow the deduction.

Donate your old vehicle to an environmental cause.
Yes, many of these groups will welcome that jalopy. Some will even come tow it away for you.

The advantages to the groups are many. It might use the auto to help transport volunteers to environmental projects. It could sell the vehicle and use the cash for other projects. Either way, if you itemize, you might be able to get a deduction for your vehicular gift on your tax return. Just be sure to find out how the auto donation is used, as that will determine just how large your write-off will be.

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