Beyond the sometimes-vague concept of giving back, though, figuring out the details of charitable donations can be a challenge. Are gifts that give back enough? How should you choose a charity? How much should you donate? There’s no hard-and-fast rule, but there are some smart expert tips that can help you figure out the right answers for you and your family. Read on to learn everything you need to know about charitable donations. Before you donate goods, snap a photo of the pile, says certified public accountant Katie Thomas. If you’re not sure how much that business suit or dining room set is worth, check the online valuation guides from Goodwill and the Salvation Army. Save receipts and documents in a designated folder, says Julie Colucci, associate adviser at New England Investment & Retirement Group in Naples, Florida. Or use an app like Evernote Scannable to store receipts in a digital folder that’s easy to share with your accountant. If you’re new to an area and want to donate to a local cause, ask neighbors or coworkers for their favorite places or go to a trusted site, such as GuideStar, which vets charities. Plug in your city and what type of cause you’re interested in. If a cash donation is a stretch one month, ask the organization if you can donate time or skills instead; you might do IT work for the website or organize a food drive. Remember, too, that you can give goods instead of money— bring tools to Habitat for Humanity, say, or personal-care products to a shelter.
