Learn how to estimate the value of clothing for IRS tax deductions as charitable donations. The value of clothing donations to charity are based on published lists of retail values or current thrift store prices. List your donation values on the Form 828
–In 1986 Arkansas governor Bill Clinton deducted $2 for a pair of used underwear he gave to Goodwill. –As president, Richard Nixon underpaid his taxes by $445,000, based largely on a huge deduction he took for donating his papers. In response the IRS limited the value of “self-create...
When a donation is made in cryptocurrency, the donor can see exactly where their money is. It is not always the case with traditional contributions, which can often be opaque and difficult to track. With cryptocurrency, donors can have peace of mind knowing that their donation is going where...