Moving time, I’m selling my home, should I donate my furniture to a good Jewish Charity?

If you can’t decide if you should have a sale to get rid of your excess stuff or just donate it, or you’re not sure which option in the end, will benefit you most financially; here’s some good information to consider before calling South Florida Donation Center a Jewish Charity.

 

  • How much time and effort are you willing to spend on the selling vs. donating?
  • How much Fair Market Value are your donations worth?
  • How much are the people that you are selling to, WILLING to pay for your items?

 

Donating good but un-needed or un-wanted furniture can and will be less time consuming vs. trying to sell some of the items and moving or transporting the other to the new home.

 

There are a lot of people who enjoy taking time to sell by having a yard sale depending or taking pictures and posting the items for sell on the internet. And then there are those who would rather just shove it in a box and call South Florida Donation Center and get rid of it, not having to deal with the time and money to promote the sale, the bargaining of shoppers, the initial pricing, the planning, etc.

Call 1(888)626-6580

To ensure which option will be best, you first need to do some organizing and planning of your deductions to see if donating will be a beneficial option.

 

Next you will need to access the value of furniture, used clothing and other personal items based on “Thrift Value” or “Fair Market Value” (FMV) – the price a buyer would pay at a consignment or thrift shop. Generally, this amount is more than what you would expect to receive when selling the items at a garage sale.

 

Lastly, keep in mind, that when you donate items to the South Florida Donation Center a charitable organization, there is certain documentation you must keep with your tax records to substantiate the deduction (Note: This information does not need to be submitted with the return).This may be a receipt or written statement from the organization that shows the organization’s name, address, date of contribution, and a description of the property.

Call 1(888)626-6580

Charitable giving: How to donate to worthy cause and benefit from it.

Nothing is more rewarding than making a donation to a worthy cause — except, perhaps, donating to a worthy cause and getting a tax deduction for it.

While most donations stem from a desire to make a positive impact, there’s no denying that tax deductions are a big incentive.

Americans gave $316.23 billion to charity in 2012, equivalent to 2% of the U.S. gross domestic product (GDP). The majority of that giving, $223 billion, came from individuals – not surprising since 88% of households give to charity.

Making a charitable donation is not only a chance to make a difference: it’s also an excellent way to reduce your tax burden for the year. The tax benefit is considered a compelling reason for making charitable deductions: more than two-thirds of high-net-worth donors said they would decrease their giving if they did not receive a corresponding tax deduction.

However, because there are so many rules and requirements surrounding charitable giving, donors often miss out on the tax benefits they deserve. A tax deduction for charitable giving isn’t guaranteed just because you’re feeling generous. As with everything in tax law, it’s important to follow the rules. And as always consult your adviser, CPA or tax accountant.

South Florida Donation Center makes easy to give to a worthy cause. We service and pick-up furniture, clothes and all sorts of re-saleable items within the Miami-Dade, Broward and Palm Beach counties representing JEWISH NON-PROFIT AGENCIES to raise funds.