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Do You Know a Millionaire Garage Sale-er?

Prairie Eco-Thrifter

A lot of us frequent garage sales. But once you have made your millions – would you still go garage sale-ing? Why would a millionaire want to continue to shop at garage sales? Garage sales are one of the few USA venues where negotiation on the price of goods to be bought is expected. To Save taxes. To Get Exercise.

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My Best Garage Sale Finds

Prairie Eco-Thrifter

Years ago, Mom introduced me to the idea of going to garage sales. People sell the darnedest things at their garage sales. If you keep your head and are persistent, you can find many things you want or need, all in near perfect condition, for a fraction of the cost with NO TAXES due. Typical garage sale prices are $.25

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Save Taxes: Negotiate A Reduction in Your Assessed Value

Prairie Eco-Thrifter

This usually leads to an increase in your real estate taxes! Increases in your assessed value can sometimes be negotiated downward, saving you tax money. Assessed value is the value that will be used in determining how much you will pay in real estate taxes. What is assessed value? This is different than the appraised value.

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Donating Household Clutter and Taking a Tax Deduction

Family Balance Sheet

I've been tackling clutter since January and I had the boxes stacked in my garage to prove it. While I love the instant cash that you can get from a yard sale, this year a tax deduction will have to do. It's been awhile since I've taken a tax deduction over having a yard sale, so I did a little research. Thanks for reading.

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Wait, Don’t Buy That Yet!

Prairie Eco-Thrifter

Since my blog is set up as a business, I could deduct the expense – or at least depreciate the asset over time – reducing my taxes. So, hey, I guess I can take the tax reduction next year as well as this! However, I wait until spring and summer to buy decorations – and get them at garage sales. Winter clothes.

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Don’t be a Buy-It-New Snob

Prairie Eco-Thrifter

Another benefit is that I am cutting the governments out of the loop – there no sales taxes on used stuff (except big things of course, like boats or cars). Here is a short list of some of my favorite finds at garage, estate and thrift store sales. I used it for years and sold it – for $25 – last summer in my own garage sale.

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4 Crazy Hard Things To Check On When Buying a Home

Prairie Eco-Thrifter

Garage sales make a good excuse to get into the area without it seeming weird or awkward. Knowing the tax appraisal history can help you understand how frequently you can expect real estate tax increases. Most counties now have real estate tax and appraisal records on line. Walk the neighborhood to get a feel for it.