As part of my get out of debt plan, I was planning on having a yard sale. However, through selling things on ebay and craigslist, I've eliminated a lot of the things that I was going to sell. Now, I'm left with a bunch of clothes and old, almost useless computer parts. I've sold off the CD's, shoes, DVD's, and other higher price fetching items. Now, I'm basically left with junk.My question is should I have a yard sale and try to get rid of this or donate this to Goodwill and try to get the tax write off? Also, I'm 100% guaranteed to have itemize my taxes this year so these donations will be worth something.Thanks.Eric
Money wise I imagine it won't make a huge difference either way. If it were me, I'd decide based on how much free time I had right now and how much I felt like dealing with a yard sale. It can be fun for awhile but at least for me, it gets old after a few hours. Normally when I do a yard sale, especially with stuff like that where I don't expect to make a whole lot of money, I ONLY do one day and limit it to a few hours. With the heat this time of year I might do something like Saturday from 7-10 or 8-11 and call it done. If I put signs up Thursday night I'm always surprised how many people show up early Sat. morning. Another thought for you is to do eBay or Craiglist but in lots - for example sell all the clothes that are the same size in one lot, and all the computer "stuff" in one lot. That might get you enough $$ to be worth it and not require a bunch of individual sales.
If you decide to donate, check out the program It's Deductible. This came bundled w/ Tax Cut last year, and I ended up with higher estimates through the software than what I would have guessed.mm
Right now, I'm leaning towards just donating to Goodwill. In order for me to get ready for a yard sale this Saturday, which is the only Saturday that I can do it for the next 3 weeks, I would have to put supplies on a CC which is not very Foolish since I don't get paid until tomorrow. I have to work during the day as well. And I'm lazy and I'm making up excuses now to not do a yard sale. I still may do it, but I seriously just have junk left and I doubt I would get more than $50-75 for all of this stuff.
Unless the computer stuff is new within the past year, you aren't going to get much for it at a yard sale.I usually wear my cloths until they fall apart, but I do have a box that will be going to goodwill. Again, I dont think you would be able to get much for them.As long as you are sure you will be itemizing, I say donate them (receipt though!)WRJ
My local credit union has a free public bulletin they publish where people can list items they wish to sell. Its free and people can access it online or via a newsletter from the credit union.Do you have anything like this? Just say exactly what you said in your original post. List your phone number and maybe people will call and make an offer on it.Or maybe you have neighbors that are also having a yard sale that you can team up with. If its just a few items, they probably won't mind.
I believe Goodwill's policy states that they will not take antiquated computers, nor computer parts. I suggest offering them for free on Craigslist. That might be the easiest way to get rid of them.-TND
If you decide to donate, check out the program It's Deductible. This came bundled w/ Tax Cut last year, and I ended up with higher estimates through the software than what I would have guessed.Can you buy this as a standalone? I don't use TaxCut.Also, when do they come out with (for instance) the 2006 version? I am going through and cataloging items to donate right now. I would just as soon attach dollar figures now rather than wait until I'm actually doing taxes.
Can you buy this as a standalone? I don't use TaxCut.You can buy it as a stand alone. I do not believe the most recent version is out yet.WRJ
Here's a link to buy it for 2005 and 2006. $19.95 http://www.itsdeductible.com/AJ
Can you buy this as a standalone? I don't use TaxCut.Also, when do they come out with (for instance) the 2006 version? I am going through and cataloging items to donate right now. I would just as soon attach dollar figures now rather than wait until I'm actually doing taxes. I actually got it last year with TurboTax - I think it was $19.95 extra.It's available standalone here: http://www.itsdeductible.com/Although, I'd look for discounts. Apparently 2006 is online only (from my quick scan through the site). I used it for the first time last year and I was really shocked at how much I was under-valuing most of my donated stuff in the past. In my case it definitely paid for itself. I don't think it actually provides a value for your donations quite yet unless it's a cash donation, but you can track all your 2006 donations in it. Then when they have the value data it'll update with that info. At least, that's how I understood it.
In my humble but correct opinion, the answer is:Trash.We often become deluded about the value of things -- as opposed to the value of our time, which is utterly irreplaceable.Come on over to the Get Organized! Board, and get a grip on what your time and energy are worth. You can also pick up info on other options, such as FreeCycle. (And some fabulous Procrastination Tools.)This thread contains some good discussion of this. http://boards.fool.com/Message.asp?mid=24346127&sort=whole#24351779Including something along the lines of: I doubt that I'll be lying on my deathbed wishing I'd kept that dustbuster that held only a 30-second charge...rather than wishing I had the 3 hours I wasted charging it over and over. BklynBorn
Goodwill is unlikely to take the old computer parts and they are hazardous waste. If the clothes are useable to Goodwill then donating is probably the best choice. Debra
In my humble but correct opinion, the answer is:Trash.Like BB said, send them to the trash. Remember that old saying, "Time is money" I wouldn't waste my time with a garage sale in this case, either.Allison
Like BB said, send them to the trash. I don't know if this is county, city, or state specific but where I live it's actually illegal to just put the computer stuff in the trash. You have to take it to one of a few designated places and then pay a fee to get rid of any electronic stuff. They recently expanded this to include things like batteries, those greeting cards that play music, the tennis shoes that light up, etc. Might be worth checking into before getting rid of the computer stuff.
I still may do it, but I seriously just have junk left and I doubt I would get more than $50-75 for all of this stuff.You are supposed to only deduct the value on the items when filing your taxes. If the stuff is truely junk and worth no more than $50, then you should only enter $50 as the value when you itemize.IF
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