Hey there! So, you’ve got some stuff lying around that you don’t need anymore, right? Consider Donating Property Instead of Selling.
Instead of going through the hassle of trying to sell it all, have you ever considered donating it to a charitable organization?
Think about it – selling stuff takes time. You have to market it, find buyers who are actually serious about purchasing, negotiate prices… the list goes on. It can be a real pain!
On the other hand, donating your personal property can bring such a great sense of goodwill. Not only are you decluttering your space and helping those in need, but you might also be eligible for a federal tax deduction based on the fair market value of the items donated.
So why not skip the stress of selling and opt for the feel-good option of donating? It’s a win-win situation!
ValuePros produces hundreds of IRS-qualified charitable donation appraisal reports annually so we have our own list of the most common reasons our clients choose to donate instead of attempting to sell:
Lack of time to market and sell items – If you work full-time when will you take the project on – in the evening, before work, on the weekend? What are your precious non-working hours worth? More valuable than the liquidation price of used items?
Finding serious buyers – Dealers who buy and resale your items are not serious buyers. They will offer pennies on the dollar of what your items are worth to serious buyers – the buyers the dealer is reselling to. Dealers have inventory all the time, you only have it once. The serious buyers know the dealer and the dealer’s resale location. They don’t know you and I suggest you don’t want a stranger coming to your home these days.
The goodwill felt from helping the less fortunate – Certainly selling things you no longer need and converting to cash to purchase more things you do need makes you feel good but so does knowing that your items can be used by someone less fortunate that otherwise may not have been able to have your things.
Benefiting from a tax deduction – Do you sometimes feel you pay too much in taxes? Would a reduction in your tax bill that enables you to keep more of your money in your pocket be welcome (rhetorical)?
