from the stuff
you don't want
Best garage sale 'left-overs' donating tips
It is unlikely you'll be able to sell everything during your yard sale and you'll have the task of deciding what to do with your unsold items. Some of these decisions would have been made as part of your planning before your yard sale. For example, what charities are in your area that will accept or pick-up specific types of items.
Donate, dump or drag back inside
One of the reasons for your garage sale was to get rid of your clutter so you don't really want to drag the left-overs back inside again! Some exceptions are:
If any items are not suitable for donating then it goes straight out to the garbage or to the local dump. Always check your local regulations on what can be disposed of in this way. For example, paints and pesticides may require special treatment.
What NOT to donate
Where to donate items
If you haven’t already, in the next day or two, contact the following:
Some other places to donate specific items
According to the IRS (in the US as at May 2009), donations of goods are deductible if made to qualified organizations. If you live outside the US, you’ll need to check with your Taxation Authorities for your options.
Learn how to get the biggest tax savings when making charitable contributions.
But basically, if your effective tax bracket is 25%, then donating an item valued at $1 by Goodwill will save you 25 cents on taxes.
I'm not giving taxation or financial advice here so you'll need to check with the IRS for that latest rules and requirements. Depending on the value of your donated items, it could be a simple matter of listing the amount on your 1040’s Schedule A and you may need a receipt from the charity.
Clothing and household items donated after August of 2006 must be at least in "good" used condition. I recommend taking a photograph and write a short description and condition of each item in case the IRS wants proof that they were of good condition. Household items include furniture, furnishings, electronics, appliances, and linens.
You can record details of your donations online for free with TurboTax ItsDeductible. If you are also using TurboTax to do you taxes, you can import the values directly at tax time.
A receipt for your items may be obtained in one of three ways
The Salvation Army website says:
To estimate the true fair market value of your items
Refer to the IRS Publication 561, Determining the Value of Donated Property. You should also check eBay & Craigslist (if you hadn't when first deciding on prices) to see what the going price is for an item you're donating.
Valuation Guide for Salvation Army Donations
"The Value Guide below will assist you in determining the tax-deductible value of any items you are donating to The Salvation Army. You will see that the table includes low and high estimates of value. Please choose a value within this range that is in keeping with your item's relative age and quality. If you have questions, your local Salvation Army Thrift Store and donation center will be able to assist you."
Copyright © 2009-2014 BestGarageSaleTips.com. All Rights Reserved.
>> Get your 130 page ebook <<
• More tips
• Friday Fun
• Best Garage Sale Tips - Home
• Is a garage sale a good idea?
• Garage sale alternatives
• Garage sales around the world
• What have you got to sell?
• The best time and place
• A Garage Sale vs Ebay
• What to do several weeks before
• What to do the week before
• What to do the day before
• What to do on the morning
• What to do during the day
• What to do near the end and after
• Best group garage sale tips
• Best cleaning and repairing tips
• Best garage sale pricing tips
• Best garage sale sign tips
• Garage Sale flyer tips
• Garage Sale ads that attract buyers
• Garage Sale street signs tips
• Garage Sale signs for the garage
• Best garage sale layout tips
• Best tips to make men stop
• Best tips to display clothes
• Best early bird strategies
• Best customer service tips
• Best 'lemonade stand' tips
• Garage sale safety and security tips
• Garage sale money handling tips
• Garage sale personal safety tips
• Best pet strategies to boost sales
• Best garage sale donating tips
• Garage sale resources & links
• Garage sale signs and stickers
• Garage sale t-shirts
• Garage sale aprons
• Garage sale other stuff
Search Best Garage Sale Tips
|CONTACT | COPYRIGHT | PRIVACY | DISCLAIMER | ADVERTISING|