Is it more benefit to have a garage sale or take a tax deduction?
I've wondered this. In the past, when in need of cash, I've held garage/yard sales, but donating and taking a tax deduction always helps at tax time. Which do you think is more beneficial?
You may need to have a garage sale to pay your taxes. I owe $288, first time in a long time that I've had to pay. I'm going to contribute to my 401k again, and buy more stocks. I think if your garage sale items exceed a certain level if makes better sense to take the deduction. Are you selling a vacuum cleaner? I need one...
They're both "beneficial," in terms of giving you cash......the sales generate immediate cash while the deductions come later. I do both....as in have sales and also make donations throughout the year!!
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