Re-Gifting 101

 

  Now that you and your family have celebrated, eaten to your heart's content, and opened presents, ask if everyone likes your gifts and if they will use them. If there is something that doesn't fit or isn't useful, donate it. I remember when people were shocked that FLOTUS Nancy Reagan re-gifted but I think was just ahead of the curve!

    If your heart and wallet have different ideas about making monetary donations, it is time to summon your inner re-gifter. An unwanted gift could be a welcome donation to a charitable organization. For help selecting a charitable organization, visit the Better Business Bureau's Wise Giving Alliance at give.org. You can also contact the government office responsible for registering charities in your state. A little research upfront will make sure your donation is put to good use. If the process of selecting a charity seems daunting, remember that you benefit from giving as well.

    Involving your children in the selection of a charity teaches valuable lessons. You have the opportunity to make a difference. Some charitable gifts are tax-deductible if made to a qualified organization. But be sure your organization meets IRS guidelines, as there may be different tax breaks when you donate certain assets to charity.