Dump The Garage Sales!  

Posted by Heidi @ Trendy Dollar

Garage sales are very popular in my small community, as they probably are in most communities. I have even participated in my fair share of sales. After the hours of hard work getting ready for it and only netting a few hundred bucks, I decided there had to be a better way to get rid of my stuff.

If you are in need of immediate cash, I suppose a garage sale meets your needs. But by donating your items, you will come out so much further ahead in the end. Each item donated to entities such as Goodwill or Salvation Army can be written off for tax purposes. And besides the tax benefits, you are also helping the organization by providing them with items to sell in their stores! How can you argue with that?

In the past years, we've donated items valued anywhere from $500 - $3,000...all amounts written off when we did our taxes. Now tell me, have you ever made $3,000 on a garage sale? I love doing this for the tax purposes of course, but it's also a way for me to clear out the extra stuff cluttering up our home.

Click HERE for the link to the Salvation Army's site for determing values on the items you donate. Keep in mind

This entry was posted on Sunday, February 4, 2007 at 1:04 PM . You can follow any responses to this entry through the comments feed .

4 comments

Anonymous  

Underwear? Do people really donate underwear? EEWWWWW!

February 4, 2007 at 7:37 PM

Yeah ... I tried to do an Ebay thing too. Again ... a lot of work! I think I prefer donating items as well. Then they are GONE, just like that!

February 8, 2007 at 8:27 AM

Although this won't get you a tax deduction, you can also post things to your local Freecycle.org list. I do this to get rid of "hard to get rid of" things like a large piece of glass (to a glass artist), broken items, gobs of clothes, etc.

March 18, 2007 at 1:03 PM

Just a note- tax law changes will require you to itemize your donations. Most tax software will do this for you. I use Quickbooks- their 2007 version of It's Deductible is online.

Oh, and I don't hold your political leanings against you!

June 29, 2007 at 11:31 AM

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