Category Archives: Finances

Clearing Clutter and Getting the Most for Your Donations

Calculating charitable donations for the best tax refund | Faith and Composition

I mentioned earlier that I’d be hosting a giveaway later this week, but we had a slight delay, so I’ve pushed the giveaway to Monday. Be sure to check back then, because the lovely ladies over at Edit, have provided F&C with not one, but two goodies to gift to two lucky winners! I think you’ll love what’s up for grabs!

Until then, I wanted to share a little something that sort of trails on the heels of Wednesday’s post. I wrote then that I often have a hard time accepting the messes made by little hands and that I’m trying to strike a balance between the array of tiny-tot catastrophes and my tendency to crave an orderly, uncluttered space. A few of you left thoughtful comments here and on Facebook in response to that post, so it seems that I’m not alone in this struggle. This is clearly a battle many of us fight.
Clearing clutter and calculating charitable donations for tax refunds | Faith and Composition
One of the ways I save some of my sanity and keep the clutter at bay is to conduct a quarterly edit of our closets and the kids’ toys. I donate some things and put others into a garage sale pile. But this year, as the garage sale pile grew, my husband asked if we could forgo it and donate it all instead. When he told me we could file it all with ItsDeductible to ensure a fair tax deduction on our tax refund, I agreed. (He also promised that we could grab breakfast at my favorite Saturday morning spot on the day of (and in lieu of) the neighborhood-wide garage sale, which may have sealed the deal!)

Clearing clutter and calculating charitable donations for tax refunds | Faith and Composition
Here’s why I like ItsDeductible for charitable donations, and why I think you’ll appreciate the service as well. When it came to donated goods, we rarely (if ever) claimed them on our tax return simply because we’d fail to record the donation at the time and would then forget about it (or its value) when tax time rolled around. With ItsDeductible, we immediately enter the items online; it then synchs with our Turbo Tax account. Any time we make a charitable donation, we log on and enter it into our account, and ItsDeductible catalogs all of our donations throughout the year.

The service tracks donated goods, as well as mileage, cash bonds and mutual funds. It also provides a true resale value for your donations based on the condition. You can donate to any non-profit, and if you’re chosen non-profit isn’t shown, you just add it.

If you’re looking for a simple way to file your donations and get a fair tax deduction for your charity, I recommend the service. As you watch your deductions climb, you may even be tempted to clear out more closets and thus ensure a more clutter-free home. Hey, a mom can dream, right!

Have a great weekend! I’ll be back Monday with the first F&C giveaway!