« Not Just ROCKS In My Dryer... | Main | How I Almost Gave Birth In a Taxi Nine Years Ago »

Works For Me: Tax Deductions

WfmwsmallMay we all just pause for a moment to revel in the brownie points I'm garnering with Hubs by doing a post on this topic?  Tax deductions are my man's love language.

Thirteen years of marriage to my clever husband have taught me that garage sales are a colossal waste of energy and money.  A few years ago, we started not only giving away unneeded items to a charity, but we began documenting our items very carefully--keeping a detailed list of what we gave, and even a photograph of each batch before we sent it off.

That may sound like a lot of work (it's not, compared to a garage sale), but the benefits have been surprising.  The dollar amount the law allows you to claim each unwanted item for is WAY more than you could get for it at a garage sale.

That last sentence is the clunkiest thing I've ever written.  This is what happens when I try to discuss anything remotely math-related.  You know what I mean.  (For more info, see this software--it's what we use to track it all.  You'll be blown away by the value of your stuff, seriously.)

Basically, my point is that donating items to charity (instead of selling them in garage sales) is a major win/win:  the charity gets the benefit of your items and you get a fantastic financial benefit.  In fact, you might save just enough to...oh, I don't know...pay for a hot pink Dell laptop for Christmas? 

If you'd like to play along with WFMW this week, check out the guidelines here first.  Then leave your link below!

Deleted

1. Lazy Organizer (Christmas Oragnizing)
2. Jill (Christmas Tree lights)
3. WorksForMom (Christmas Tree Tip)
4. ellen b ~ yummy!
5. Scott (Clean Pet)
6. Staci (How to read in bed)
7. Activities Coordinator (A Place to Share)
8. Christa @ No End inSite
9. An Ordinary Mom (Christmas Giving Tree)
10. Infinity Goods (Santa)
11. Our Family Village (early reading skills)
12. Lori ~ Simple Life at Home (Best Cake Ever!)
13. Lady Why (butter bell)
14. Holding Little Hands (Peaceful Car Rides With Children)
15. Mom Is Teaching (book swap)
16. A Juggling Mum (Potty Party)
17. LovingOurHomeschool (Piano Practice Game)
18. Melissa Markham(organizing recipes)
19. Jen (cutting your kids\' food)
20. Owlhaven (Christmas \'canning\')
21. Duckabush Blog (Christmas Gift Ideas)
22. Shirley (For the birds...)
23. Rhen (yestheyareallmine!!)
24. FamilyBriefs (dinner & wreath tips)
25. Many Little Blessings (Helping Sibling Gift Giving)
26. Kandy (getting hugs from teens)
27. Ronnica (Remove Ink Stains)
28. Autumn Daisy Studio (Consumables for Christmas)
29. phyllis (chanukah & giveaway)
30. Laura (easy candle wax removal)
31. Pursuing Simplicity (Documenting Athletic Events for kids
32. Carrie (Christmas shopping)
33. Christine (healthy snacks)
34. Mrs. Pear (Christmas Baking List)
35. Capturing Today (winter utility savings)
36. Corrie (fun Christmas tradition)
37. Alexandra(Budget Saver: Thrift Store Finds)
38. Michelle at Scribbit
39. Nichole (Great Deals)
40. Frazzmom (super easy breakfast treat)
41. Amy (organize Christmas list)
42. Karla ~ Looking Towards Heaven (Not in My Cart! - Safe holiday shopping
43. Lisa @ The Preacher\'s Wife (Keeping that shower sparkly)
44. Liza\'s Eyeview (Devotion this Christmas Season)
45. 4urpets (Doggy Stuffed Toy Tip)
46. NerdMom(Christmas Card Management)
47. Beth @ The Natural Mommy (Save the Dining Room Carpet!)
48. Stacey (christmas cards)
49. Jes @ BeautyFromChaos (Fish Tips)
50. Jen (Better Gas Mileage)
51. NerdMom(Best and Easy Mashed Potatoes)
52. Infinity Goods (Wreath)
53. Lynnae @ From Under the Clutter
54. Marie (Child Out of Mom\'s Bed)
55. Chappyswife (NoSlipClothes)
56. Cyndy-Keeping Knives Sharp
57. Liza\'s Eyeview (Christmas Memories)
58. Dot (Stylin\' Large)
59. Money Saving Mom (free flash drive!)
60. Alaina (Grandparent Gift Idea)
61. Proverbs 31 (Cleaning Sippy Cups)
62. Need A Nap2 (hand-held shower head)
63. Stephanie @ Keeper of the Home (starting my mornings well)
64. Robin (containing messy play)
65. Sheila at Dodging Raindrops (almost free books)
66. DeputyHeadmistress (can-opening, 101)
67. Jane(Dark Chocolate)
68. Stretch Mark Mama (Cheapo Green Craft Bin)
69. Stephanie @ Keeper of the Home (starting my mornings well)
70. Mandy @ Biblical Homemaking (~menu planning with technology~)
71. Mommy Cracked (Making Puffy Bows)
72. Erin @PurpleFrangipani (Finding quotes)
73. Susan(EasyLentilStewForBabyandFamily)
74. Shalee (Gift for 9-14 yo kid)
75. Melissa (Easy holiday craft)
76. Sam(antha) (Prayer Book)
77. Georgia Mom (thumb sucking)
78. Organising queen (kitchen organising)
79. Lori (use old newspaper too...)
80. Hadias (1st Time)
81. MomOnTheGo (mags for kids)
82. Home4them (restaurant/store coupons)
83. Mrs. Jones (beautiful vinyl floors)
84. Kathy (Stress Relief)
85. Trixie @ Farm Home Life (yummy recipes)
86. cdmom(hard water stains)
87. Milehimama (Roast Chicken Secret plus Sauerkraut recipe)
88. Mrs. G (Books on CD)
89. Ornery\'s Wife (cleaning fireplace doors)
90. Debbie J. (Simple planner/organizer for Christmas)
91. Sarah @ REAL LIFE (Easy Christmas Decorating)
92. Jennie C. (online rebates)
93. Sarah (Diaper Rash Treatment)
94. Liisa (Easier Lunchtimes)
95. At Home with Kris (menu planning)
96. Jessica (Free Digital Photo Prints at CVS)
97. Candace (lets talk trash)
98. Saph (homemade gift)
99. Britin (GPS)
100. Mommin\' It Up! (make time for yourself)
101. Heather L. (Laundry Tip)
102. Dawn (New Holiday Tradition)
103. monica (free digital scrapooking software)
104. Clappy Shoes (Yummy Smelling Holiday Decor/Activity)
105. Megret (hair accessory organization)
106. Momma 2 Beans (safe stocking holder)
107. Petersonclan
108. Feminine Pursuits ($85 for $7)
109. Petersonclan (Teaching Reading)
110. Candace (Kid\'s Craft Project)
111. Marianne (handmade teacher gifts)
112. SeaBird (Displaying Art)
113. Tons of Sons ~ Christmas traditions
114. jennifer - Santa Question
115. Peggie (baby toys)
116. Maggie (Casseroles for fast meals)
117. The Not Quite Crunchy Parent(Saving Airfare with YAPTA)
118. Robin (Keeping Children\'s Christmas Wish List Under Control
119. Lorraine (Not about the "day")
120. Thia (Holiday Shortcuts)
121. Elena@ MyDomestic Church (Librivox.com)
122. Rachel (tip from my three year old)
123. Laurie(cursive help)
124. Momala (meal idea)
125. Ashlee(gifts)
126. Laane (hiding presents)
127. Charity (new stuff for Blogger)
128. Donetta@ A life Uncommon
129. Jeni (tomato paste)
130. Peggie (problems with husband\'s hobby)
131. Savvy Mom (stress free menus)
132. Aimee @ Smiling Mama (Library Books!)
133. It Coulda Been Worse (Cereal Bugs)
134. Christine (Storing decor to make room for Christmas)
135. Stewardship Living (tracking expenses)
136. Kara (using junk mail for good)
137. Alison (saving tomato paste)
138. Erin (how green is your Christmas tree?)
139. Joanna (Sharing links)
140. Kathy Days (prevent diaper rash)
141. Alison (yogurt soap)
142. Heather (Extra gift money and changeable wish list)
143. Christine (blecgh in the car!)
144. Homemaker05 (Christmas Clothes for Baby)
145. Stacey (EASY handmade ornaments)
146. SAHMmy Says (Quick Frugal Carpet Cleaning!)
147. Kisses of Sunshine (Color Catcher Sheets)
148. Deb (greeting card display)
149. Christina (a little ME time)
150. Kirstin (beauty of organization)
151. Stop the Ride! (mini bread)
152. Song of the Sagebrush
153. Lorie(Bandana Crafts)
154. Amyswandering (Tons of Gift Ideas)
155. susiej clutter control
156. MemeGRL (outdoor Christmas tree)
157. Janelle @ Now Play Happy! (Adventures in Odyessey)
158. GP in Montana - riding lessons of life
159. Texastanya (Garage Butler)
160. EEEEMommy (Christmas for Great-Grandma)
161. Ann\'Re (Fun, Frugal Christmas Cards)
162. Lana G! (EMERGEN-C HOT)
163. Not the Queen (embossing powder)
164. Pieces (christmas books)
165. Jordan @ MamaBlogga (natural air freshener)
166. Nicki (My Boys and Me)--Organized Cookbooks
167. Susanne (best meatloaf ever)
168. Amy W (Xmas Card Short Cut)
169. Mamabug (over the door organizer)
170. Amy (bedtime hall pass)
171. Lana G! (EMERGENC HOT)
172. Katie (free movie rental)
173. MomsMakinCents (opening jars)
174. Beth (30 Days of Joy)
175. Adena (turkey leftovers??)
176. Abbi (Bathroom organization)
177. Stephanie (Using Your Homeschool As Ministry)
178. Heather (to do lists and giveaway)
179. Rachel - Exercising with Young Kids
180. Laura (easy candle wax removal)
181. Kelli@GohnCrazy (BEST baby carrier)
182. Audra (Gift Wrapping Tradition)
183. Managing the MotherLoad (Diaper Bag Alternative)
184. Lisa/AWTY Easy, Fun Christmas Crafts
185. MrsScotsman (how to keep a diaper on all night)
186. womanly pursuits (favorite recipe resource)
187. Sandi (Stromboli tutorial)
188. RibbonRockStar (Cake Baking Tip)
189. Erica (A Yankee in Jawja)
190. Erica (A Yankee in Jawja) Christmas tree lights, problem solved!
191. Aimee (Santa Sacks)
192. Jamie/penguinsandladybugs (Christmas tradition idea)
193. Rachel (Toddler Popsicles)
194. Smockity Frocks (Free Shipping)
195. Beth@sportsmomma (keeping kids occupied in doctors office)
196. Janelle
197. Suzanne (gadgets for arthritis)
198. Tickled Pink (Holiday Photo Frames)
199. Seis (24 Advent Activities)
200. Shannon @ A Reforming Mom (A great way to reuse old Christmas cards!)
201. Kim - Really Dry Hands
202. Jenni (Shorter Trips to Grocer)
203. Sarah (Grown-up fun for a Great Cause)
204. Sharinskishe
205. Bonnie (Kids Chore Motivation)
206. Jen Morris (scenting your home)
207. Linda(Easy Chicken Parmesan)
208. Sandy M
209. Tiffany (Auctions)
210. shopnsaver
211. The Garveys ( easy to save gas $$$)
212. The Garveys ( easy to save gas $$$)
213. jennifer - santa key
214. Lou Shrugged (Create a Coupon Book)
215. Bonnie (Kids Chore Motivation- The Jar)
216. Kristi
217. DeputyHeadmistress (when Daddy leaves on a business trip)
218. DeputyHeadmistress (several easy Christmas crafts)
219. DiscoveryDiva

Powered by... Mister Linky's Magical Widgets.

Comments

Don't know why it took so long for us to figure out how to keep the area clean around our pet cage...but finally!

That sounds great to me! Just took 4 bags of my daughters rejects to Goodwill!

As someone who works for a non-profit tax place, that sounds like a good idea. People just need to remember that only works if you itemize, which I don't.

That's a great idea! We donate, but I never really know how to put the value on it. I will have to check out the software!

You are correct! My husband and I have taken loads and loads of household items and clothing items to a local shelter. It has saved us so much time and we can actually document exactly what the items are worth! Great tip!

Woo Hoo! I have finally left a WFMW post! I read your blog faithfully every day. I just re-started my blog and am going to try to stay with it this time. Keep up the awesome work Shannon! I am all for the tax deducts to our local charity this time of year.
Blessings!
Vickie

A hot pink laptop? So sexy!

We do the same. Donating makes sense financially, and it's helping others help themselves. I try to donate to the children's hospital and rehab. shelter program thrift store. I also shop there too. :)

AMEN! I keep preaching this delayed gratification concept, but my friends just keep sludging through the garage sales!

Great post, Shannon! We've been doing It'sDeductible for two years now, maybe three? I dunno. But I DO know what a difference it's made come tax time.

I may even drag out the camera this year. Great idea!

I am SO drooling over that hot pink laptop, darn it!

Donations make you feel good, too! :)

we can't wait until tax time!!! but for now I have my hands full with diaper...yuckie, yuckie diapers.

so sorry...i forgot to copy and paste...it must be too late...i gotta go to bed

That's an interesting tip! What a cute laptop!

We were married over 21 years before we made enough income to justify itemizing. We never made enough to pay taxes in the first place, so we couldn't use deductions. The yard sale cash was worth it to me then.=)

Ahhh, finally a really great reason to continue my dislike for creating a yard sale. But, I have to say that Mr. Right and I discovered the benefit of keeping track of all our donations two years ago. We made some major money back without having to go insane during the sale.

Two things: keep the receipts from the charities and as long as you don't go over $500 (in government credit), you don't have to have a really detailed list. But if you're giving away more than that per year, then be prepared to prove your generosity.

Excellent tip, Shannon!

My accountant sent a newsletter with December tax tips just yesterday. It must be this time of the year. I need to check on the Canadian tax situation. Thanks for the reminder.

I never considered that before but it makes great sense! Now I really regret selling tons and tons of my stuff for a mere $300 at my moving sale last year. :( Love your blog!

I have been donating to charities for year. One because have have obligated myself to do so and two because I learned a few years ago of the tax deductions involved.

I am not found of having yard sales simply because the buyer expects you to sell your items for less than what they are worth, instead I take alot of gently used clothing to 2nd hand stores.

While you're talking taxes (my love language too!) be sure to total your after-tax insurance premiums and medical expenses AS WELL AS medical mileage. And if you give to your church, your tithe and offering counts as a charitable deduction. Be sure your church secretary/treasurer gives you a printed list. The IRS just wants your stuff written down.

love and hugs, your friendly tax pro blogger :)

Great post! I think I'm *finally* learning that tax deductions are easier after too many garage sales.

I'll never hold another yard sale again. I once inadvertently sold my husband's Super Fantastic Christmas Tree Lights and haven't heard the end of it.

"Honey, where are my good lights? Oh, that's right. You SOLD them for a dollar!"

You're right, garage sales are way too much work! A friend of mine had one recently. She made $23 then ended up donating all her stuff anyway.

Shannon;
We do both at our house. There are some things that people just really don't want to buy at a garage sale, but donating them to charity helps them and gets rid of your stuff too. There are other times when the money generated from a garage sale is earmarked for some project or goal, and it is handy to have the "tax-free" income. Depends on how much stuff I have, too.

Thanks for hosting WFMW. My winter cleaning spree is underway, so I have another cleaning tip this week. Happy Humpday!
TM

The comments to this entry are closed.


  • BlogHer Ad Network
    More from BlogHer Advertise here BlogHer Privacy Policy

Good Stuff

Change the World

The Techie Stuff

Blog powered by TypePad