Donate It!

I love going to garage sales, but I hate having one myself. Too much work. So I keep a box in the garage that I toss things into when I'm ready to part with them. And when the box is full, I donate it.

If you do the same thing, here's something that will pay off. Keep a good record of exactly what you donate, and the value of each item, for the tax deduction. In the past, I just generalized and underestimated what my donation was worth. Now you can go to www.salvationarmy.com and find out what it's really worth for tax purposes. From the home page, click "Ways to Give", then "Donation Receipts - Valuation Guide". On that page, you will find an extensive listing of items, with low and high values, depending on the condition. You can use this as a basis for your tax deduction. For example, a man's overcoat could be worth $7.50 low or $60.00 high.

Again, keep good records, and it would be good to even print out the valuation page from the Salvation Army website to keep with your tax records. You might be better off donating than having a garage sale!