If you can’t decide if you should have a sale to get rid of your excess stuff or just donate it, or you’re not sure which option in the end, will benefit you most financially; here’s some good information to consider before calling South Florida Donation Center a Jewish Charity.
- How much time and effort are you willing to spend on the selling vs. donating?
- How much Fair Market Value are your donations worth?
- How much are the people that you are selling to, WILLING to pay for your items?
Donating good but un-needed or un-wanted furniture can and will be less time consuming vs. trying to sell some of the items and moving or transporting the other to the new home.
There are a lot of people who enjoy taking time to sell by having a yard sale depending or taking pictures and posting the items for sell on the internet. And then there are those who would rather just shove it in a box and call South Florida Donation Center and get rid of it, not having to deal with the time and money to promote the sale, the bargaining of shoppers, the initial pricing, the planning, etc.
To ensure which option will be best, you first need to do some organizing and planning of your deductions to see if donating will be a beneficial option.
Next you will need to access the value of furniture, used clothing and other personal items based on “Thrift Value” or “Fair Market Value” (FMV) – the price a buyer would pay at a consignment or thrift shop. Generally, this amount is more than what you would expect to receive when selling the items at a garage sale.
Lastly, keep in mind, that when you donate items to the South Florida Donation Center a charitable organization, there is certain documentation you must keep with your tax records to substantiate the deduction (Note: This information does not need to be submitted with the return).This may be a receipt or written statement from the organization that shows the organization’s name, address, date of contribution, and a description of the property.