Monday, June 25, 2018
Consumer

Gift that keeps on giving Gift that keeps on giving

Washington Post

What should you do with the unwanted electric toothbrush or desk trinket you received as a gift? That dilemma used to be fraught with guilt, says Tanisha Warner, spokeswoman for Regiftable.com, a site run by the financial-advice nonprofit Money Management International. "More and more people are regifting now to save money," said Warner. "It promotes recycling and can be done thoughtfully year-round." When not regifting, some unwanted gifts are so valuable that they could put money in your wallet or help you save on your taxes. So choose to regift, sell or donate your unwanted acquisitions.

Regifting

According to a Consumer Reports Shopping Poll, 36 percent of Americans will regift an unwanted present this year. "It's not a new concept and is losing its stigma during this economy," Warner said. "The key is to take the new recipient's tastes and wants into consideration."

Keep it sealed: Too many people regift half-used bottles of perfume. Prevent this faux pas by keeping gifts in original packaging.

Wrap with new paper: If you're lazy, you'll end up giving Susan a box that reads "To Margaret, with love." Rewrapping the present in new paper forces you to examine it for old cards. Warner says leaving evidence is the most common mistake people make when regifting.

Beware of the social network: Don't regift in the same circle of friends. If the friend who gave you a hideous jacket sees your mutual friend wearing it, it's bound to come up in conversation — and both friends will feel slighted.

Selling

eBay: New sellers often have a tough time competing for buyers on eBay, but now you can list up to 50 items a month free, paying commission only if the item sells. To help get you started, eBay has user-friendly guides.

SOCExchange: Similar to eBay, SOCexchange.com is a newly launched online auction site popular in Australia. It charges a flat 2 percent commission rate and caps commissions at $10 for all products you list. It's taking no commission on items listed before Jan. 31, benefiting one-time sellers who want to get rid of gifts.

Pawnshops: So your husband has terrible taste in jewelry. If you're not going to wear it, why not exchange or sell it for cash at a pawnshop? Larger electronic items also make for great bartering chips, so make a trade for something you need or want. Before selling, however, be sure to check around and visit more than one pawnshop to find the best price for your item.

Charities

Charities will take some of the extra stuff you have lying around your house. Donating unwanted clothing, furniture and tools to charities not only helps others but also helps with lowering your taxes. "A sweater might not have a big impact on your taxes, but donating high-value items raises the stakes," says Gil Charney, a principal tax analyst at H&R Block's Tax Institute.

Know your charity: Make sure you're donating to an organization that has tax-exempt status with the Internal Revenue Service. For a complete list of where and what to donate, visit charitychoices.com.

Know your worth: The IRS allows you to deduct the fair-market value (or actual worth) of an item. Follow its guidelines and remember that if the item isn't new, it depreciates.

Get a receipt: When was the item bought and how much did it cost? If you didn't receive a receipt with a big-ticket gift, Charney recommends going to the store and taking a photo of the price tag. You'll need to attach the price when doing your tax return.

A picture is worth your word: Take photos of donations in case the IRS asks you to prove the worth of your items.

Comments
Shop with Pride this weekend

Shop with Pride this weekend

WEAR THE RAINBOW: SHOP WITH PRIDEHaven't got a stitch to wear to St. Pete Pride this weekend? Local artist and designer Chad Mize has you covered, literally. Each year, he makes new T-shirt designs for Pride, and he's back at it again with four new o...
Published: 06/21/18
Plan your weekend: St. Pete Pride, Hall and Oates, Pixies, Logic, comics Jay Pharoah and Bobby Bones

Plan your weekend: St. Pete Pride, Hall and Oates, Pixies, Logic, comics Jay Pharoah and Bobby Bones

Rainbow connection Pride weekend: One of the largest Pride celebration in the Southeast happens this weekend in St. Petersburg, bringing a rainbow of activities. Things set off on Friday with the free SP2 Concert at North Straub Park, hosted by Coc...
Published: 06/20/18
Updated: 06/21/18
5 things to do under $5: USF Summer Plant Festival, Bridal Show, free show by AnastasiaMax

5 things to do under $5: USF Summer Plant Festival, Bridal Show, free show by AnastasiaMax

1 Summer Plant Festival: If you think you canít get anything to thrive in Floridaís brutal summers, check out the vendors with fruit trees and advice on how to grow them, along with hundreds of blooming butterfly plants, herbs and tropical and exotic...
Published: 06/20/18
Fatherís Day events for every Dad

Fatherís Day events for every Dad

FATHER'S DAY: TAKE DAD OUTSo maybe shopping isn't high on the list of things you'd think to do with Dad for Father's Day, but I'm not suggesting dragging him around the mall. There are quite a few cool events this weekend that Dad can enjoy, and you ...
Published: 06/14/18
Things to do this weekend: Fatherís Day, Maroon 5, The Illusionists, Mr. Rogers film, fireworks at Busch Gardens

Things to do this weekend: Fatherís Day, Maroon 5, The Illusionists, Mr. Rogers film, fireworks at Busch Gardens

HolidayFatherís Day: Sunday brings us a day to honor the guy who cheered us on, called us down and blamed us for his bald spot. Itís Fatherís Day! A number of local attractions are offering free admission for dads if at least one ungrateful progeny t...
Published: 06/14/18
5 things to do under $5: Dive-In Movies, Studio@620 birthday party, 71-cent burgers at Hard Rock

5 things to do under $5: Dive-In Movies, [email protected] birthday party, 71-cent burgers at Hard Rock

1Happy Birthday [email protected]: The community artists’ collective is celebrating its 14th birthday Saturday, with a free party at the perfectly timed 6:20 p.m. The little studio in downtown St. Petersburg puts on an array of art shows, concerts and...
Published: 06/13/18
Busch Gardens brings back fireworks, free Adventure Island pass with Fun Card

Busch Gardens brings back fireworks, free Adventure Island pass with Fun Card

Back "by popular demand" Busch Gardens has announced the Tampa theme park will once again have a fireworks on weekends this summer, and the park also brought back its deal that gets you a free pass to Adventure Island water park with the purchase of ...
Published: 06/12/18
Hereís what the

Hereís what the "b" stands for in IHObís new (and temporary) name

Thatís it, International House of Pancakes? Thatís the best you can do? You announce last week that you are mysteriously changing your name from IHOP to IHOb, and every pancake eater in the land gets busy. Sample coy tweet: "Dear Internet, we abbreci...
Published: 06/11/18
Updated: 06/12/18
Fila collaborates with Burn Rubber sneaker boutique and shop Safety Harbor this weekend

Fila collaborates with Burn Rubber sneaker boutique and shop Safety Harbor this weekend

YBOR'S GOT SOLE: BURN RUBBER X FILABurn Rubber is a sneaker boutique in Ybor City that opened last October. The shop is the second location for the decade-old Detroit-based brand. Tampa resident Omar Ghanem, originally from Detroit, had been a suppor...
Updated one month ago
5 things to do under $5: Free golfing for kids, $5 admission at Imagine Museum

5 things to do under $5: Free golfing for kids, $5 admission at Imagine Museum

1 $5 Thursdays: The new Imagine Museum is offering $5 admission on Thursdays from 5-8 p.m. through June 28. The museum is dedicated to glass art, especially studio glass, a fairly recent movement in the scope of glass art, with pieces that take a pag...
Updated one month ago