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"Whether you&amp;#039;re donating money, clothes, old furniture or other goods, there&amp;#039;s a right way to claim the cash. From selecting a charity to deduction rules, learn how to get the biggest return for your generosity. \u2022 Be sure you&amp;#039;re giving to an IRS-qualified, tax-exempt 501(c)3 nonprofit organization, otherwise you can&amp;#039;t write off your donation. To verify a charity&amp;#039;s tax status, check IRS Publication 78 at IRS.gov. (Payments to individuals are never deductible.) \u2022 Charitable contributions are only valuable from a tax standpoint if they, along with your other itemized deductions (such as home mortgage interest), exceed the standard deduction. For 2011, that amount is $5,800 for most singles and $11,600 for most married couples. \u2022 You may have paid $200 for the stack of clothes you&amp;#039;re donating, but it doesn&amp;#039;t mean you can deduct that much on your taxes. The IRS allows you to deduct the &amp;quot;fair market value&amp;quot; of your goods. Simply put, that&amp;#039;s whatever it would sell for at, say, a thrift store. Need help figuring out what your stuff is worth? Check out Goodwill&amp;#039;s donation valuation guide, a rundown of price ranges for many items sold in its stores. \u2022 Before you have that old sofa or chest of drawers hauled off to Goodwill or The Salvation Army, give it a good once-over. If you want to take tax deductions on furniture, appliances, clothes or any other non-cash item, your stuff has to be in good condition. \u2022 It doesn&amp;#039;t matter if you&amp;#039;re claiming $50 or $500 on your goods\u2014you have to be ready to back it up. For goods totaling less than $250, that means you should ask the charity for an itemized receipt. For goods worth $250\u2013$500, you&amp;#039;ll need an itemized receipt plus written acknowledgment of your donation from the charity. Anything worth $500\u2013$5,000 requires an itemized receipt, written acknowledgment, plus detailed records of how and when you got the items. Where to Give This Christmas, consider giving to one of the charities below, which have each earned a 4-star rating at CharityNavigator.org. If You Want To Fight Poverty Giving Children Hope Mission: Provide health supplies and community support to at-risk children living in poverty in the United States and around the world. If You Want To Help Disabled Heroes Disabled American Veterans Charitable Service Trust Mission: Support rehabilitation programs for disabled veterans, and offer aid and shelter to homeless vets. If You Want To Stamp Out Hunger Stop Hunger Now Mission: Collect and distribute food to needy people worldwide. If You Want To Protect Women&amp;#039;s Health National Breast Cancer Coalition Fund Mission: Increase federal funding for breast cancer research and help uninsured women gain access to care. If You Want To Help Kids in the Classroom &amp;quot;I Have a Dream&amp;quot; Foundation Mission: Provide guaranteed college tuition assistance to children in low-income communities. If You Want To Save Animals PetSmart Charities Mission: Partner with and fund thousands of animal welfare organizations and shelters nationwide, and also find homes for dogs, cats and other small animals. "^^<http://www.w3.org/2001/XMLSchema#string>
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