I surely did not expect this process to move as slow as it is, or be as time consuming as it has been, but I have been doing a lot of reflecting and growing and learning through this whole process, so it is all for good!
But back to the donations. We make random trips to Goodwill throughout the year, and I always end up jotting down the specifics of what we are donating on random sheets of paper. This last trip was a biggie. As I filled the bins to drop off, I wrote down each and every item.
Then, I had to go through all of the clothing and on the next page in my notepad get more specific, as I ended up donating maternity clothing, dress clothing and kid's clothing. And then on the next page, I wrote down everything we donated to the ReStore. All of this writing on random sheets of paper was only getting me so far. I needed a better system.
And why do I write all of this down? Because when you make a donation, all you get is this....
However, it is a good idea to keep track of everything you donate and the approximate value of those items for tax purposes. So once you have your list made of everything you are taking to the donation center, you then need to assign a value to that item based on the condition. The good thing is that both the Goodwill and the Salvation Army offer an online reference sheet to help you determine those amounts.
And I have a printable that will help you keep everything in a pretty organized fashion!
Just click on the image below to download your free copy of the donation tracker, fill it out throughout the year when making drop-offs, and use a paperclip to attach the receipts from the donation centers. Stick it in your file and store with your tax paperwork and boom! Done.
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| {click HERE to download your free Donation Tracker printable} |
I have been forcing myself to be ruthless with this purge and process. I thought I had done a good job before, but as I go through bin after bin and pile after pile, I have been shaking my head in confusion at some of the things I am finding. And boy was I a good organizer, you wouldn't believe how much stuff I was able to pack into those two little spaces.... I have to admit it is pretty impressive {enter sarcastic grin here}.
Please know that I am not a licensed tax professional, just your average Josephine trying to stay organized for MY licensed tax professional! For additional information on rules and regulations regarding Charitable Contributions, please visit the IRS website or contact your local tax adviser.
jenn, totally unrelated but where did you get your adorable polka dot dress? must have!!
ReplyDeleteHi Steph!
DeleteIt is from the Gap. I don't see this particular style available any longer, but they still have a few similar options {and 40% off through today!}
xo!
I love your dress too btw :)
DeleteLove this! I divorced and downsized BIG time with my two teenagers. I've donated so much to Salvation Army. I never even knew they had a value printable! Thank you!
ReplyDeleteHi Jen! I have a totally unrelated question for you...have you seen any cute and fun desk calendars (like the great big ones that you literally lay on your desk)? All I can find are super boring ones, and I'd love to have something pretty to keep me organized. Any ideas?
ReplyDeleteI have not, however, I really haven't been on the look for one either. Maybe check SeeJaneWork or Container Store?
Deletexo!
Ahhh, I so need to start doing this! We've taken several bags throughout the last year, and I never think to add it up first. It would help me eliminate that "Doh!" moment in the tax office...
ReplyDeleteJen - Thank you soooo much!!! While I always keep track of our various donations to goodwill with a detailed list....I always just wrote it on boring white notebook paper. Gasp! Your document is pretty and perfect and will be used every year!! Thank you!!!
ReplyDeleteMelissa :)
Haha, I know right? As I was scribbling away I was wondering why it took me so long to whip something up that was much more pretty and orderly! ;)
Deletexo!
Melissa, I am confused about the tax deduction part - do they really allow us to just assign our own values to the items we donate?
DeleteKatie - (I am a tax professional) donations to Goodwill, etc. are valued using the "Thrift Shop Value" You can deduct the amount the item will sell for in the store. This deduction is only available if you itemize your deductions on Schedule A.
DeleteIf a donation is to a Thrift Shop, a value is pretty low, even if it was a designer blouse. The IRS has been a lot stricter about these rules in recent years.
That's what makes Jen's donation tracker so great! In the past, my clients would put $500 on a Goodwill receipt and tell me that they gave "5 garbage bags full of stuff" That would not fly if you are audited.
oh I just LOVE your to-do list notepad, Jen! where is it from?
ReplyDeleteI received it as a gift but I believe it was from Target! :)
DeleteThanks for the sharing the printable. Just printed it out and can't wait to fill it in.
ReplyDeleteThanks for the excellent sources for the values and the download! That helps me out a lot!
ReplyDeletePerfect timing! Just getting ready to put away summer clothes and the impulse buys that never fit must go! Also I REALLY need to go through my five years olds toys! Gotta make room for the incoming legos and super heros. You saved me 20 minutes of looking for a donation tracker printable today! Thank You!
ReplyDeleteWahooo! That makes my day!
DeleteMay I suggest an alternative to Goodwill? Once we found out what the CEO of Goodwill's salary was (six figures) we decided the Salvation Army was a better fit for us. Thanks for the post-great idea. I appreciate the printable as well! :)
ReplyDeleteAbsolutely! Thanks for sharing! I know many towns also have smaller, locally owned thrift stores as well.
Deletexo!
While I do support the Salvation Army (Goodwill, not so much), I do try to donate most of the stuff to the Kidney Foundation. The KF helped to pay for much of my Grandpa's kidney dialysis when he was alive, and its the smallest thing I can to "repay" them. :)
DeleteOk, this printable makes me smile. As as tax accountant that deals with a lot of messes, I have a feeling your info must be so organized and pretty!
ReplyDeleteHi Jen -- you may know this, but if you use Turbo Tax to file your taxes, they have an online tool that tallies item values. It is called "It's Deductible" (https://itsdeductibleonline.intuit.com/) and has the functionality to import into Turbo Tax come tax season. I keep paper records throughout the year too, but I also like to have an electronic record too.
ReplyDeleteThanks for the tip! I have seen that, however, I don't file through Turbo Tax {I have an accountant to help with business things}, so I wasn't sure if I could still use the online service for donations. This just ensures I can quickly jot things down and keep it with the rest of my annual paperwork. :)
Deletexoxo!
I have been going through my whole house to organize lately and have been purging a ton as well! It is amazing how much stuff you think you "might" need one day. Thanks for the printable. I am always scribbling this stuff down all over. I end up using It's Deductible (by TurboTax) to keep track. It gives you a relative value and it all just syncs right over to our TurboTax software at tax time. It is a huge time saver. But inevitably when I don't have time to enter everything right away it is on papers all over the house. :)
ReplyDeleteThank you!
ReplyDeleteThis is a great idea! I just made my third trip to Goodwill this month. I am not very good at keeping track. This will be a big help!
ReplyDeleteI can totally relate to how you've been feeling. Almost 2 years ago, I decided to get my photo prints in order. They were split up between 2 cabinets and a closet shelf. It took me 3 months because it was so intense to sort through memories. The hard work was totally worth it though because now I can quickly find a photo. :)
ReplyDeleteYou are seriously a printable superwoman! How did you create a printable that I didn't even know I needed so badly? I'm saving it and printing one for my tax file now! Thank you!!
Thank you so much for this! I really need to get rid of a lot of STUFF, so this will be perfect!
ReplyDeleteLoooooove your website. I can't even remember how I found you. I've really started getting in to blogs in the last year, and I'm going crazy keeping up with them all! :)
ReplyDeleteIt's amazing to see the differences between countries though... In Australia we don't get a tax break for donating items. That's all it is here - a donation :)
Peta
Actually you do get a tax deduction for donating goods in Australia, you just need a receipt from who you donated to, to claim it.
DeleteReally?? I never knew this. I suppose then that we should stop donating to the 'bins' and take them to an actual sorting facility.
DeleteThank you for helping other readers out! Makes my day!
DeleteProperly documenting donations can take a really long time because you do need to write down every item and then assign the value.... but just think, once you complete the task, you won't have to handle those items every again. I bet you are feeling pretty good right about now... and so is your tax professional! :)
ReplyDeleteI take a picture of everything before I pack it up to head out. Then I organize the pictures by date of drop off to match my generic receipt for tax time.
ReplyDeleteThat is another great tip, thank you! We only took photos of the trunk of our cars, but I am wishing I had taken a few more specific photos. Something to remember next time!
Deletexo!
Jen - Just wanted to let you and your readers know that Goodwill has a great online tool called the "Donation Receipt Builder." I use this all the time to keep track of the donations we take to our local Goodwill store. It is much more comprehensive than the receipts they give at the time of donation. The Donation Receipt Builder can be found at their website at:
ReplyDeletehttp://www.amazinggoodwill.com/donating/
DONATION RECEIPT BUILDER
Keeping Track of Your Donations Just Got Easier! Goodwill is pleased to offer this online electronic donation receipt for the convenience of our customers. Follow the step by step instructions to record your donations and print out or save your personalized donation receipt. We'll save the record of your donations, so at year's end, you can simply print them out as you gather all your tax papers.
Goodwill provides a suggested price for items donated in good, gently-used condition. This estimated value will automatically come up in the price box once you specify the category and item. If you feel your item is worth more or less, you are able to adjust the price in that box accordingly.
Wonderful news! Thank you so much for sharing!
Deletethank you, thank you, thank you! Your the best!
ReplyDeleteHi Jen - I am a "tax professional" and I have to tell you that this is an invaluable resource!! Thank you so much for sharing and I will definitely be sharing this and your site with my clients this upcoming tax season!! Thank you!
ReplyDeleteI have always been told that you have to donate a certain amount $ wise for it to count on your taxes. ?? I only itemize if my CPA says it is worth it and its usually not for us. What is the $ amount for donating? Thanks!
DeleteHi believe you are correct Jessica! You might want to check the IRS website or with your tax pro!
Deletexo!
This is great! Thank you!
ReplyDeleteI love this idea. I am constantly donating items for clients and jotting down general estimates on their receipt. This would be a great thing for them. Thanks!
ReplyDeleteSo cute! Thanks for sharing it with us!
ReplyDeleteThis is such a great idea. I usually don't keep up with mine and I need to do better. I just donated tons of things to the Goodwill and to our Open Heart organization and didn't keep a record of any of it.
ReplyDeleteI love the printout. I go one step further and take pictures of stuff I'm getting rid of (in groups) to keep with my taxes just in case of an audit... I also LOVE a free intuit online program called 'it's deductible' and it will give you a total value of your donations.
ReplyDeleteJen this is sooo helpful and pretty- Thank You! <3
ReplyDeleteThank you Jennifer for all of the free printables you offer. I appreciate it so much. So much talent!
ReplyDeleteUsed this printable today before taking a couple bags of goodies to the Salvation Army. You are awesome, and I don't think you will ever understand how helpful your blog has been and continues to be. Thank you!
ReplyDeleteHi there! I am trying to print this out for our year end donation and the link isn't working! Am I doing something wrong? :) Thanks so much! Love all your worksheets!
ReplyDelete