If I am the owner of a Trift Store and I donate my excess clothing, shoe's. etc. to a Mission that has 501c3 status, am I intitled to any tax deductions on my donation?

How is your store owned, since it is owned by the store, if you file separate taxes for the store, the store should be able to take the deductions.

How is your store owned, since it is owned by the store, if you file seperate taxes for the store, the store should be able to take the deductions.

I am the mission that excepts these items and was wondering about the tax advantages of Thrift store owner that may be part of a non profit organization or an individual that owns the store for profit. Are the tax benefits the same. We pick up from both types of buisness's. I want this to be mutualy benefitial for both parties if possible.

You are a sole proprietor. On your schedule C (Form 1040), you can't deduct Charitable contributions. You can deduct charitable contributions only if you itemize your deductions.

Partnerships and Sub-Chapter S corporations CAN make charitable donations, and the donations are then passed through to the partners/shareholders via Schedule K-1.

However, MukatA is correct about the sole proprietor having to itemize to claim the donation as a deduction.