"The person who makes a success of living is the one who see his goal steadily and aims for it unswervingly. That is dedication." - Cecil B. DeMille
logo

Go Back   Saving Advice > Financial Chit Chat > Personal Finance

Personal Finance Credit cards, home loans, retirement plans and taxes. The place for all your personal finance questions.

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 01-01-2005, 05:00 PM
robby robby is offline
$ Saving HS Freshman
 
Join Date: Jul 2004
Posts: 133
Points: 9795.80
Donate
Default Is stuff bought at Good Will and the Salvation Army tax deductible?

I know if I give a donation of cash to Good Will or the Salvation Army I can deduct that on my taxes. If I buy something from one of their stores can I deduct that from my taxes since they are getting money?
Reply With Quote
  #2 (permalink)  
Old 01-02-2005, 09:16 AM
terry1156 terry1156 is offline
$ Saving College Junior
 
Join Date: Apr 2004
Posts: 1,110
Points: 26771.50
Donate
Default Re: Is stuff bought at Good Will and the Salvation Army tax deductible?

The simple answer is "no" You are receiving something in return for your money and so you can't deduct it as a donation.
Reply With Quote
  #3 (permalink)  
Old 01-06-2005, 02:48 PM
MrsChambers MrsChambers is offline
$ Saving HS Sophomore
 
Join Date: Dec 2004
Posts: 182
Last Blog Entry: HERE WE GO AGAIN...2006
Points: 4619.60
Donate
Default Re: Is stuff bought at Good Will and the Salvation Army tax deductible?

OMG

somepeopleschildren
Reply With Quote
  #4 (permalink)  
Old 01-15-2005, 10:13 PM
robby robby is offline
$ Saving HS Freshman
 
Join Date: Jul 2004
Posts: 133
Points: 9795.80
Donate
Default Re: Is stuff bought at Good Will and the Salvation Army tax deductible?

What if you give a donation and your receive a small gift in return for it? Is the entire donation not tax deductible because you received something in return?
Reply With Quote
  #5 (permalink)  
Old 01-17-2005, 10:16 PM
amomof4 amomof4 is offline
$ Saving Jr. College Student
 
Join Date: Dec 2004
Posts: 396
Last Blog Entry: $400, Ocuh!
Points: 14145.30
Donate
Default Re: Is stuff bought at Good Will and the Salvation Army tax deductible?

If u buy something from a charity that costs more than the value, it is tax deductible. So if you donate $25 to a christian charity and get a $10 book in return, u can deduct $15.

But I don't think u r going to over pay at a thrift store. Nice try.
Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gold Teeth Left For Salvation Army jeffrey Personal Finance News, Articles & Blog Posts 0 12-18-2005 01:11 AM
Salvation Army Nets 5 Gold Rings jeffrey Personal Finance News, Articles & Blog Posts 0 12-12-2005 04:28 AM
Pots Of Gold For Salvation Army jeffrey Personal Finance News, Articles & Blog Posts 0 12-19-2004 11:18 PM
Man Donates Social Security Check To Salvation Army jeffrey Personal Finance News, Articles & Blog Posts 0 12-17-2004 06:09 AM
Robber Steals Salvation Army Xmas Kettle jeffrey Personal Finance News, Articles & Blog Posts 0 11-29-2004 02:25 AM



Powered by vBulletin®
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.0.0 RC6 © 2006, Crawlability, Inc.

Copyright © 2012 SavingAdvice.com. All Rights Reserved.