Local experts: Donate now, save on taxes later
JACKSON, Tenn. — Make a donation to a nonprofit, and you could get your money back when you file your tax return. Local nonprofit groups see a surge in donations this time of year. Donations poured in Monday at the Goodwill drop-off site in North Jackson. “Belts and ties and all go in this bin,” employee Charles Barbour said. Barbour says this is their busiest time. “From now until the middle of January, so we’ll be humping it,” he said. Giving to Goodwill or other nonprofits also can pay off when tax time comes around. “Whatever it is, you can write it off on your taxes, and we would appreciate it,” Gail Gustafson said. Gustafson runs the Dream Center of Jackson, an emergency shelter and transitional housing facility for women and their children. “Whatever you use in your home, we can use it times about 60,” she said. Tax experts said the amount you save depends on your tax bracket. “If someone is thinking about donating, they need to ask for a receipt, that way they can claim that on their taxes,” Goodwill District Manager for West Tennessee Sandra Hickey said. In 2013, Goodwill said donations of clothing and household goods jumped 80 percent between Dec. 26 and Dec. 31. Goodwill said those gifts help put people to work. “Goodwill is another chance for me,” Barbour said. Goodwill said the IRS allows a deduction for each item, but it is up to the donor to estimate each item‘s value.
