Tax Deductions and Credits ‘Tis the Season for Charitable Giving and Tax Deductions Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Published Nov 21, 2011 - [Updated Sep 8, 2017] 3 min read The holidays are typically the season of giving, but how has the economy impacted charitable giving? A weak economy has many people feeling more cautious than ever. As a result, 7 out of 10 of us (68%) will be “giving” more sparingly to our favorite causes, according to a study by Campbell Rinker. Another 1 in 10 Americans plan to stop giving altogether until the economy gets back on track. The good news is there are plenty of ways to be charitable without actually dipping into your pocketbook. All you have to do is shop more thoughtfully, and “doing good” can easily be a part of your everyday life. Here are some options: Shop Your Closet Have a couch that no longer matches your living room decor? Gently worn clothing that is cluttering up your closet? A television set that you’re not using? As long as your “stuff” is in good or better condition, charities will be pleased to take it, and you’ll be rewarded with a nice little tax deduction come tax time. To determine your item’s fair market value, use ItsDeductible, a free online site from TurboTax. It’s free, easy to use and it imports directly into your TurboTax return. Shop Online A site called GoodShop.com makes giving a cinch. Anywhere from 3% (on average) to as much as 30% of each purchase you make on this shopping portal – which is affiliated with over 2500 name brand retailers from Amazon, Toys ‘R Us, Target, to GAP, and Petco – is donated to your favorite charity. Simple as that. Change Your Search Engine Every time you do a search on GoodSearch.com, a Yahoo-powered search engine (that you use as you would any other search engine), one penny is donated to your favorite cause. And those pennies add up: the ASPCA, to name one, has already earned over $34,000 from searches by its supporters. Shop Smart Put your funds to work when you shop by buying from one of the many companies that donate part of their proceeds to a noteworthy cause. Lots of them do – from Estee Lauder, Kiehls, The Body Shop, Tom’s Shoes, Dancing Deer Baking Company to Newman’s Own. Buy and Sell on eBay Support your favorite causes through the eBay Giving Works program. Sellers: Choose the charity and the percentage of the sale you’d like to donate when you list an item. The listing will automatically be indexed for buyers wanting to give to the charity that you have selected. Buyers can also search for items by charity in order to ensure that their bids support their favorite causes. Apply Credit Card Points See if you can convert your credit card points into a charitable donation. The Members Give program at American Express (amex.justgive.org), for example, allows its customers with points-based rewards cards to redeem these points as a donation to any of the charities listed on GuideStar.org (there are over a million to choose from). Charities get $10 for every 1,000 points you redeem. Game for Good Give to a good cause by playing social games that drive donations to various charities. TurboTax has a Facebook game, “Gaming for Good“, which is designed to generate holiday toy donations for Toys for Tots. Successfully complete all three levels of the game and TurboTax will donate one toy to a child in-need. Previous Post When Should You Amend Your Tax Return? Next Post 7 Year-End Tax Moves to Make to Lower Your Taxes Written by More from One response to “‘Tis the Season for Charitable Giving and Tax Deductions” Top-notch share it is definitely. My father has been searching for this update. Reply Leave a ReplyCancel reply Browse Related Articles Tax Deductions and Credits Holiday Gift Giving and Tax Deductions Tax Deductions and Credits Tax Facts for Summertime Charitable Giving Tax Deductions and Credits Save with a New Tax Relief Donation Law and Holiday Giv… Tax Deductions and Credits Give the Gift of Charitable Donations on Giving Tuesday Tax Deductions and Credits Charitable Giving and Your Taxes Tax Deductions and Credits End of Year Charitable Giving Tips This Giving Tuesday Taxes 101 Charity Tax Deductions (What Counts as a Contribution?) Tax Deductions and Credits Spring Cleaning and Charitable Giving to Help at Tax-Ti… Tax Deductions and Credits It’s National American Red Cross Founder’s … Tax Reform I’m Donating to Charity This Winter, Will I Still Get…