How do I handle taxes for donating a PC basket to a charity raffle?

[redsoxgirl]

I'm planning on donating a PC basket to a charity raffle.

How do I figure out the taxes on it or whatever? Do I just write down what I donated and hang on to it till tax time?

 

[KellyTheChef]

I would write down the date, what event you donated it to, a contact number (if you have one) and then list each item individually with the retail price, and then the total retail donated.

 

[beepampered]

Request a receipt from the nonprofit organization. They don't need to say the amount but a letter with a thanks for giving a gift basket would help you "prove" that you gave the products.

 

[PartiesbyJamie]

another idea is to make up a gift certificate that they have to contact you directly to use ... you then place the order for them and pay with under consultant gift. I've donated a few things (products) in the past and never got any business from it. This way, if they don't redeem, you aren't out anything & if they do, they just might book a show. I just donated a gift certificate that I made to a charity this morning. It was for $25 off a $75 (plus direct shipping & handling costs) dollar of more order. Plus I included a note about hosting, that I would apply the $25 to their order & no shipping!

 

[AnaCash]

Hi there! That's wonderful that you are planning on donating a PC basket to a charity raffle. As a Pampered Chef consultant, I highly recommend keeping a record of the value of the basket that you are donating. This will be helpful when it comes to tax time, as you can then accurately report the donation on your taxes. You can also reach out to the charity organization for any specific guidelines or forms they may require for tax purposes. Thank you for your generosity and happy cooking!