Prepping For Garage Sales

Dated: 11/01/2018

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Prepping for the Sale

 1. Get Supplies. Make sure you have everything you need at least a day before the garage sale starts

 2. Don't Forget the Change. Odds are, you'll have to make $19.95 in change for your first customer 

3. Sort Your Items. Sort before your price 

4. Price Your Items

5. Organize and Arrange Your SalePricing clothes for garage sales

 

⦁  Baby Clothes. Suggested price: $1 to $3 for gently used baby clothes, 25 to 50 cents for well worn clothes 

⦁  Adult Clothes. Suggested price:  $3 to $5, unless the item still has the original tags — those can go for more

 ⦁ Shoes, Coats, Jewelry - Suggested price: $5 to $7

   

 Business Licenses and Permits for Garage Sales 

⦁  The cost of a permit is pretty inexpensive, but the cost of a fine can wipe out much of your sale profits

⦁  Business owners in many cities are required to get a business license or permit to open a business.

⦁ Some localities include garage sales as businesses.

If you're making garage sale profits, that overhead is taxable as capital gains even if it is from your old clothes, toys, car, or blender. 

So, any money you earn by selling your personal items will need to be reported on your tax return.

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Manuel Quiros

My name is Manny Quiros, I’m a real estate professional in the “Disney Area”, I have lived in this area since 1999 and have called this area my home and place my wife and I to raise our three wo....

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