Donate your golf equipment and you can reduce your tax burden!
If you’re like me, you have one area of your house, apartment, or garage filled with golf equipment you no longer use. Although maybe this equipment has been replaced by newer technology or you’ve grown tired of them or they just don’t work for you, most of it would probably work for someone else just fine. So donate it!
Donating items of value to qualified charities can significantly reduce your tax burden. I suspect that most of you reading this are probably in the 25% tax bracket.That means that donating $200 worth of golf equipment could reduce your federal taxes by $50 (& also your state taxes).
Now although you might be able to sell that equipment for more money, donating your golf equipment greatly reduces the hassle factor! Simply take the equipment to your local charity thrift store. Many charities will even come to your house for a pickup! For a list of the charity thrift stores near you, go to The Thrift Shopper. Make sure you get a receipt and follow the IRS guidelines on Charitable Contributions.
And since we are talking about donating golf equipment, what better organization is there for doing so than The First Tee program? The First Tee is a nation-wide program that provides young people of all backgrounds an opportunity to develop life-enhancing values such as confidence, perseverance and judgment through golf and character education. All contributions are tax-deductible to the fullest extent allowed by law.
It used to be that the biggest hassle in this process was figuring out how much to value each item. Not anymore! There is lots of help on the web. Also, many of you already have it loaded on your computer. The tax program TurboTax contains a module called It’s Deductible that does it all for you!
Of course, other good things happen when you donate your golf equipment to charity. First, donating to charity benefits your community. The proceeds from the resale of your equipment help charities fund numerous worthy causes.
Then there are the additional benefits of the smiles & good will you engender from your significant other from “clearing out the clutter” while reducing your taxes! When the money you can save on taxes is added to these intangible benefits, the frugal golfer doesn’t hesitate to donate golf equipment to charity!
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Would like to donate golf clubs. The FIRST TEE APPEARS TO WANT CASH DONATIONS, NOT CLUBS.
DO YOU KNOW ANY ORGANIZATION THAT WOULD WANT CLUBS DONATED ?
Where in SE Connecticut can I bring golf clubs that I want to donate?
2nd message:
I meant to say SW Connecticut. Where in SW Connecticut can I drop off clubs as a donation?
Gail,
Some First Tee programs will accept clubs — my local program accepted mine earlier this year. It all depends on whether or not the kids in the local program need clubs or not.
Your best bet is to call around to another First Tee program or to other charity thrift stores (I’ve also donated clubs in the past to AMVETS).
Lee ***
The Frugal Golfer
Chris,
Check out http://www.thethriftshopper.com/ to get a list of your local charity thrift stores.
Lee ***
The Frugal Golfer
Set of Bob Toski Irons 3 thru putter
Set of North Western Irons and Woods
Players Putter
McGregor Putter
Trident 3,5 Wood
Talyor made Golf Bag
Good condition. Looking to donate to a Charity
The only way to enjoy golf is to be a masochist. Go out and beat yourself to death.