Ask Experts Questions for FREE Help!
Ask    ||    Answer
 
Advanced  
 

Ask QuestionsprogressAnswer QuestionsprogressBuild ReputationprogressBecome an Expert
 
Free Answers in 3 Easy Steps

Register Now
3 Steps

At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to:
  • Get free answers from experts in any of our 300+ topics.
  • Accept money for answers that you provide.
  • Communicate privately with other members (PM).
  • See fewer ads.

Home > Business & Careers > Business Plans   »   Donations for Consignment Shop

 
Thread Tools Search this Thread Display Modes
Question
 
 
#1  
Old Mar 24, 2007, 08:26 AM
tkmcdaniel
New Member
tkmcdaniel is offline
 
Join Date: Mar 2007
Posts: 1
tkmcdaniel See this member's comment history on his/her Profile page.
Donations for Consignment Shop

Is it okay to take donations to open a thrift shop?

Teresa

Reply With Quote
 
     

Answers
 
 
Old Mar 24, 2007, 08:56 AM   #2  
Home Repair & Remodeling Expert
ballengerb1 is online now
 
ballengerb1's Avatar
 
Join Date: Dec 2006
Location: Wheaton, Illinois, USA
Posts: 15,403
ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.ballengerb1 See this member's comment history on his/her Profile page.
I do it alot but only to shops run by churches or shelters.
  Reply With Quote
 
     
 
 
Old Mar 24, 2007, 06:21 PM   #3  
Ultra Member
RubyPitbull is offline
 
RubyPitbull's Avatar
 
Join Date: Jan 2007
Location: In the dog house
Posts: 3,582
RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.
There is nothing illegal in taking clothing donations from people willing to help you out in your new business. However it is illegal for anyone to try to take a tax write off for their donation. You must make them aware that this is to help you out and your business is a "for profit" enterprise.
  Reply With Quote
 
     
 
 
Old Mar 24, 2007, 07:58 PM   #4  
Christianity Expert
Fr_Chuck is offline
 
Fr_Chuck's Avatar
 
Join Date: Nov 2005
Location: Georgia
Posts: 36,875
Fr_Chuck has disabled reputation
You can make a "donation" to any charity group that is approved by the IRS iether by official letter of determination or by being exempt such as churches under the 501C regulations.

You can not "donate" things to a for profit business. Now people can give you things to sell and give them to you free, but you have to be very clear, that you are not a charity, and they are getting no tax credit for this.

Now you will find that some of the major Goodwill and Salvation Army sties actually have sales or auctions of excess items, and also sell bundles of clothers ( these are bales that are compressed by a big machine of assorted clothes)

also you will normally find local auction houses that have alot of excess itmes ( boxed items) where the entire box of items sell for one or two dollars, ( this is where alot of resale shops get thier items they sell, we have three such auctions each have two sales a week, within 15 miles of my house.

Also you go by people having a yard sale on the last day fo thier sale, toward time to close up and offer them a price for everything they have left.

Also depending on what country you are in, and if in the US what state, as to if you can legally call your store a "thrift" store also. In some areas this name denotes a charity where the money paid for the items is going to be used for a non profit group. So you will see other names such as re-sale, yard sale, pre-owned or other name.
  Reply With Quote
 
     
 
 
Old Mar 24, 2007, 08:03 PM   #5  
Ultra Member
RubyPitbull is offline
 
RubyPitbull's Avatar
 
Join Date: Jan 2007
Location: In the dog house
Posts: 3,582
RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.RubyPitbull See this member's comment history on his/her Profile page.
Fr Chuck, excellent suggestions about where she can pick up things at a discounted price! But, you forgot the most important one! Church Rummage Sales! Some of them have these $1 "grab bags". They take the clothes and place them into large clear bags and you get the whole bag for $1.
  Reply With Quote
 
     

Your Answer
Email me when someone replies to my answer
Join Login





Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

 
Similar Sponsors


Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page

Similar Threads
consignment? what is it?
(0 replies)
Consignment Store Insurance Coverage
(1 replies)
Consignment Shop
(0 replies)
donations
(1 replies)
how much do donations affect amount owed or refunded
(4 replies)

Search this Thread

Advanced Search

Bookmarks

Sponsors



Copyright ©2003 - 2009, Ask Me Help Desk.
All times are GMT -8. The time now is 08:11 AM.