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Retail garments storeowners inevitably face identical situation year after year a surplus of last seasons design in most form or another. This is good news for the consumer, as prices on these items are typically slashed well under retail in order to make room for new stuff. However what to do with the clearance products that remain on the shelves well into the next season? Or what if there simply isnt enough area to hang on to these products any longer once new products arrive? Storeowners who find themselves facing these questions can want to consider donating overstock and/or clearance items to a worthy charitable organization.

In most cases, making a sizeable donation will not just benefit the several people touched by the organization receiving your donation, it can make a positive impact on your bottom line by allowing your business a tax write-off at the end of the year. If you are considering making a sizeable donation, you might primary want to contact your tax advisor to discuss how the donation would impact your tax scenario.

It’s advisable to spend some time researching potential organizations prior to donating. There are seemingly countless organizations out there that are willing to take donations of outfit and accessory items. When choosing an organization, make sure original and foremost that the organization is not-for-profit, as this ensures the potential tax-benefit of donating. It might be easier to locate large national organizations, but it is worthwhile to research smaller local organizations as well. These local organizations often do not receive the level of exposure necessary to meet theirs demands at identical level as larger organizations. As is the case in therefore several situations, the internet is mostly the best source of information for researching charitable organizations. In addition, consult your local phone book, and ask around. Chances are you already know somebody who has some sort of connection to a local charity use those connections!

Once you have selected a non-profit organization to receive your donation, it is crucial to obtain a single point-of-contact within the organization. This person can organize the receipt of your donation, which in most cases might be arranged to take room at your business or warehouse. It’s a good idea to provide an itemized list of the donation, including wholesale value, towards your point-of-contact at the time of the donation. This list will not just help to document inventory in your records, it will as well be a helpful tool for the charity to reference whilst incorporating the donation products into their

recent product supply. In turn, ask that they provide you having a letter of receipt, acknowledging and referencing the value of the donation. This letter will provide documentation that will be needed to validate the tax write-off. Be several to discuss the significance of this letter with your point-of-contact prior to making the donation, and follow-up soon as the donation is made to be quite a few the letter is generated in a timely manner.
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