My wife and I just held a small rummage sale in our front yard. I find rummage sales fascinating and amusing at the same time. At a rummage, you let strangers paw through your old stuff in hopes that they will give you cash for it. What a country. Anyway, we didn’t make a huge pile of cash. It was nice to get a little money for stuff that we were just tripping over anyway, but it didn’t seem like the whole process of pricing and carrying out and carrying back was worth it.
During the course of the day, we decided to donate everything that we didn’t sell to a local charity. I though that since we were sitting around and had all the stuff laying out, that we might as well take the opportunity to make a list of all of the stuff in order to deduct it from our taxes this year. We wanted to make sure that we were complying with the new IRS rules for charitable donation of “stuff”. We ended up with over $1,000 worth of deductions. The deduction might put more cash in our pocket than the sale did.
I doubt that we would have taken the time and effort to document our donations properly if we had not held the rummage. Not bad for a lazy Saturday.