Donate value of D&B, Brahmin

Why don't you send your Dooney's in for trade in's?

I do that all the time and get new handbags for the next season.

As far as value, I always put half the value on the card for tax purposes.

As far as I know, depending on where you are donating to, they have their own "price list" to give you an idea what's the max you can deduct......but I bet some people abuse the system, as with everything else....

If you search, there is a list of donated items and their value. I used it a few years ago and,IMO, it's pretty accurate. You'll be surprised. What you thought was $$$$ , isn't.

On your taxes there's an option to value your donations - appraisal, thrift store price, comparable sales. If you want to donate, you could check what your bags are selling for on ebay or a consignment shop and use that number.

salvation army donation value guide
http://satruck.org/donation-value-guide

it also depends on how much paperwork you want to do and maintain for the IRS come tax time.

To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more. If your total deduction for all noncash contributions for the year is over $500, you must complete and attach IRS Form 8283, Noncash Charitable Contributions, to your return.

http://www.irs.gov/uac/Eight-Tips-for-Deducting-Charitable-Contributions

On 7/24/2014 sunshine45 said:

salvation army donation value guide
http://satruck.org/donation-value-guide

it also depends on how much paperwork you want to do and maintain for the IRS come tax time.

To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more. If your total deduction for all noncash contributions for the year is over $500, you must complete and attach IRS Form 8283, Noncash Charitable Contributions, to your return.

http://www.irs.gov/uac/Eight-Tips-for-Deducting-Charitable-Contributions

The guide has $20 as high value of a women's handbag. I was thinking around $50 but don't want to flag an audit. Maybe a consignment shop makes more sense - but from what I read - they don't pay much either. I may call around to find out.

Later: Seems that right now the shops are only taking Spring fashions etc.. so I will have to wait until fall since my bags are more fallish.

Yep, that's the guide I was referring to. Last year I bought a house so I donated a lot of stuff I didn't need before I was moving and it total to $800 but I decided to claim just $500 because I didn't want to do all the extra paper work....AND I am a CPA ;-) Really, the difference isn't that huge in the money you are saving anyway....unless you want to claim $3000 or something vs. $500....but you might be better off selling and getting the cash....