Page 97 - March-2015-Life-in-Naples-Magazine

IT’S TIME FOR “SPRING-CLEANING”

by Jim Henderson
President of William C. Huff Companies and

national speaker for estate downsizing and lifestyle transitions

W ith spring just around the corner, many of us are starting to Receiving a tax deduction for donated
think about “spring cleaning”! Here in Southwest Florida,
even snowbirds participate in this annual purge before items is not only a good financial decision;
heading north for the summer. The question becomes, what is the
easiest and most financially beneficial way to get rid of our stuff ? it is also beneficial for the community.
Up north, we often have family nearby that would be more than
happy to adopt our gently used items. Also with the beginning of Most non-profits who have resale shops
warmer weather, it is not uncommon to see garage and yard sales
popping up in neighborhoods all around us. However, in Southwest will pick the items up for free and will give
Florida, there are many local non-profit resale shops willing to take
our spring cleaning belongings off our hands. the home owner a tax receipt for the value

One of our clients recently moved from a seasonal rental home of their donation. For instance, $20,000
into a newly built and fully furnished/decorated home. Since the
items in their rental home had been purchased just one year prior, worth of furnishings could represent up
the couple was aware of their value and considered sending their
things to family members in the Northeast or paying for storage. to $7000 in tax savings. At a consignment
When I advised them of the cost involved, they contemplated
consignment. I challenged the client to instead consider donating shop, the homeowner would be hard
their belongings to a non-profit and using it as a tax write-off.
pressed to receive any additional savings or

benefits, plus they would most likely have to pay tax on the money

they made from their sale.

A few local non-profits that make a great deal of their annual

budget through resale are: Options Thrift Shoppe - benefitting the

Shelter for Abused Women, The Salvation Army, St. Matthews

House and Conservancy Resale, to name a few.

In conclusion, my advice on spring cleaning is… when in doubt,

toss it out! ADVERTORIAL

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Life in Naples | March 2015