I'm just putting this out there for discussion.
My parents are having a garage sale next weekend and I have one big item and a few smaller items and I've been thinking...
would it be more profitable (time equals money too!) for me to put things out at a garage sale or just take them to goodwill and get the receipt and tax deduction.
I donated a ton of stuff last year and it added up really quick on my tax deduction (over a thousand dollars people) and it got me thinking.
I'm for sure going to sell my dining set at the garage sale (and advertise it on craigslist as well) because I can sell it for considerably more than I could get credit for it. Plus the cash will allow me to get my new set and a computer table Lord willing. But as for the rest of it? It's mostly older household items, clothes up the wazoo! and toys and such.
What items would you sell vs donate?
Friday, May 09, 2008
Garage sale vs. Donation and deduction
added with a smooch by kimi at 5/09/2008
Labels: domestic triumphs
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3 comments:
Ok, I want your clothes!! I LOVE your clothes!!
We sell the bigger items on craigslist & garage sales, but all the other stuff, we donate...I just don't have all the time for garage sales anymore...we donate & write it off for taxes too ;)
You caught me at the perfect time as I am having a garage sale TOMORROW and I should really be working on it but I am reading your blog instead... hmmmm...
I know so many people that have garage sales and I do them for the social aspect as well as the money. I will do a one day garage sale and then box anything up that doesn't sell and store it at my parent's house until later this summer when they do theirs and I will get even more $ from that. Whatever doesn't sell from that I will donate, but we just don't have high ticket items this time around. We will be selling our clawfoot tub on Craigslist though... some things work better that way.
Hey I found this article today and thought of you- check it out! Lots more options for ya ;)
http://articles.moneycentral.msn.com/SavingandDebt/SaveMoney/EmptyYourClosetsFillYourPockets.aspx
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