Donating funds, time, or items to charities helps out those in need. Donating these items also can provide you with benefits. Many people are not aware of these benefits, and perhaps if they were, would be more willing to donate. Charities need assistance in a variety of ways over the holiday season, but they also require donations throughout the entire year. Many of their donation amounts drop after the holidays. Keep these benefits in mind and attempt to donate all year long.
A warm and fuzzy feeling
When you are able to give to those in need, such as children in need clothing, you are likely to feel good about yourself. You are accepting your blessings of having a job, a family, and the ability to donate items or funds that you no longer need. Donating items to those in need can put you in a good mood and can make you happier. It can help you look at the world in a new, positive light.
Frees up space in your home
Most people have closets that are too full or basements that are crowded with storage. It is easier to throw items you no longer want into a box for storage than it is to go through them for donations. However, with charity pick up services, you can easily donate your items to military charities or any other charity that you choose. The average American purchases 10 pounds of previously used clothing each year in the United States. Go through your closets for unused and unwanted items for donations to free up additional space.
Can provide you with discounts
Some military charities and other charities have partnerships with other businesses to encourage donations. They may provide coupons or vouchers for free items and services with your donated items. You can donate the items that you no longer want, and receive a voucher for a service that you do need. These vouchers might include free meals at a local restaurant, a percentage off of a local store, or a discount on a home or salon service.
Donate food before it goes bad
It can be disappointing to throw out food in the house that has gone expired. You probably think of all the people who would have enjoyed that food item. Consider donating your food items as they get close to expiration date. You can no longer donate them once they are donated, but if you give enough time, they will go to good use. We generate 21.5 million tons of food waste each year. If we composted that food, it would reduce the same amount of greenhouse gas as taking 2 million cars off the road. Do your part with your food charitable donations.
Tax liability reduction
When you donate to military charities, or any other 501C3 charity, you are reducing your tax liability. In other words, you do not have to pay taxes on the money that you donate. With 95.4% of Americans participating at some level of charitable giving, this can be a very advantageous benefit. Reducing your tax liability can be the difference of owing taxes or even increasing your tax refund. However, it is important to donate to military charities that are 501C3 exempt.
The 501C3 exempt status means that the charity itself is exempt from paying taxes on the money received. You do not have to pay taxes on it, and the charity does not have to pay taxes on the donation. This frees up a higher percentage of the donation to help those in need. You can receive tax reductions for money, clothing items, or other household items that are donated. Depending on the amount of value that is donated, you may need a receipt from your local charitable donation.
There is no question that donating money and household items to charities is beneficial. However, donations are also beneficial to the person doing the donating. Charities that will pick up donations make the entire process easy and quick, while also providing additional storage space in the home, tax benefits, and a warm and happy feeling. Consider donating all year long, as many charities do not receive enough assistance after the holiday season.