Giving can be straightforward, but determining what to offer for maximum benefit requires thought.

Many people engage with charities throughout the year, but the holiday season—and the impending April 15 tax deadline—often stirs additional motivation to give.

While giving is a universally acknowledged act, figuring out what and when to contribute can pose challenges. This year, the decision-making process may be influenced by recent tax law adjustments. The standard deduction has risen to $12,000 for individual filers, $18,000 for heads of household, and $24,000 for married couples filing jointly. If your total deductions, including charitable contributions, don't surpass these figures, itemizing may not be beneficial. However, this doesn't mean you should refrain from giving.

Ultimately, our resources—time, money, and possessions—are finite. Thus, when we choose to give, it’s vital to ensure our contributions make a real difference for those in need. If you're uncertain about your giving approach, explore our overview to assess your position and identify the best strategy for you.

Consider Giving Goods If …

You want to declutter. Everyone can benefit from a good purge, says Melanie Schnoll Begun, a philanthropy management expert. “Examine your belongings and realistically assess how often you use items that may just be gathering dust.” For instance, if you haven't worn a piece of clothing in the past year, it's a strong candidate for donation.

After pinpointing potential items for donation, such as clothing, toys, furniture, or canned goods, research local nonprofits that would benefit from your contributions. Connecting your donations to the right organization is crucial, advises Jared Feldman, a partner at Anchin. For example, a used exercise bike could be perfect for a veterans’ rehabilitation charity, while an old instrument might find a better home in a school or religious institution.

“As a best practice, check an organization’s website or contact them before donating items to understand any restrictions or requirements they may have,” Begun notes. “This helps ensure your generosity is effective.”

Also, consider that donating goods is a form of recycling, so finding new homes for unwanted items (instead of discarding them) benefits the environment too.

If you plan to claim your donations on your taxes, maintain thorough records. You’ll need a receipt from the charity to qualify for a deduction—merely dropping items in a bin won’t suffice. Additionally, for items valued over $500, an appraisal may be necessary. “If your tax return is audited, the IRS may require detailed records supporting your noncash donations. Keeping accurate documentation of how you determined the fair market value of your donations is critical,” cautions Begun.

Consider Giving Money If …

Instead of focusing on where to donate money, start by asking yourself, “What do I want to achieve?” This clarity can greatly enhance your success in finding a suitable cause, suggests Begun.

Often, charities prefer cash donations over physical goods. In times of crisis, for instance, they need the flexibility to provide victims with immediate necessities—whether that’s food, shelter, or personal care items. Cash donations enable organizations to swiftly procure essential items without the need for sorting, leading to an immediate impact.

Additionally, there are various methods to give money, notes Nora Yousif, a Certified Financial Planner. While donating cash is acceptable, donating appreciated stock can be a more tax-efficient method. “This way, you can avoid capital gains taxes when giving to a tax-exempt organization,” she states. Essentially, gifting stock can align your charitable goals with tax benefits, adds Kathleen Kenealy, a wealth advisor at Boston Private.

However, be cautious with your monetary gifts. While funding a cause you care about is worthwhile, ensure you’re not sacrificing your own financial goals in the process, Kenealy advises.

Consider Giving Time If …

Volunteering can provide one of the most fulfilling forms of giving, allowing you to connect directly with those you’re helping and see the impact firsthand. “The personal interaction involved in working at a soup kitchen or offering services in struggling communities can generate lasting memories and valuable lessons,” says Feldman.

Furthermore, volunteering can help you acquire new skills and deepen your understanding of a specific cause, making it an excellent addition to your resume. Plus, the social aspect of volunteering can help you forge new friendships and strengthen existing ones.

Before committing to a volunteer role, remember that time is your most precious resource, Begun emphasizes. “Assess how much time you can realistically offer. Then, consult with the organization to ensure it’s a suitable fit for both parties in terms of mission and impact goals. This approach will facilitate a positive experience for you and the charity.”