Black Market Organ Donation

At the end of the year, the difference between saving and giving might become a bit blurry. As tax time approaches, get the most out of making charitable donations and plan for the future with responsible investments for college or retirement.

Donate Used Items

Of course those unwanted holiday gifts and things-that-still-work-but-have-been-replaced should be donated to a charitable institution before the end of the year. You can pocket the tax receipt and feel good about that. But givers should beware, or be aware, of where their good will is going. Some for-profit thrift stores have agreements with non-profit organizations that translate into only a percentage of profits going to fight cancer, for example.

Other thrift stores accept donations but do not give IRS deductions and have nothing to do with charity. Better-known organizations such as Goodwill Industries and the Salvation Army utilize donations to create jobs and all profits go to fund their programs. Thrift stores operated by other non-profit agencies, such as the Humane Society, churches, or other local charities can also provide tax deductions.

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