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Regifting 101Charitable Donations

One sure-fire way to successfully regift

With more than half a million federally recognized charities soliciting contributions, chances are you'll be sought out as a donor this holiday season.  If your heart and your wallet have different ideas about making monetary donations, it is time to summon your inner regifter.  An unwanted gift could be a welcome donation to a charitable organization.

For help selecting a charitable organization, visit the Better Business Bureaus’ Wise Giving Alliance. You can also contact the government office responsible for registering charities in your state. A little research upfront will make sure that your donation is put to good use.  If the process of selecting a charity seems daunting, remember, you benefit from giving as well.  

  • Involving your children in the selection of and contribution to a charity teaches valuable lessons.
  • You have an opportunity to make a difference.
  • Some charitable gifts are tax-deductible if made to a qualified organization. But be sure your organization meets IRS guidelines as there may be different tax breaks when you donate certain types of assets to charity. 

Best of all is that the regifting rules do not apply.  Charitable organizations often accept used items (in good condition) and there is no need to gift wrap. Also, remember that the most valuable gift may be your time; many charitable organizations rely on volunteers. 

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