Styleforum › Forums › Men's Style › Men's Clothing › Tax Deductable Clothing?
New Posts  All Forums:Forum Nav:

Tax Deductable Clothing?

post #1 of 6
12/8/11 at 8:26pm
Thread Starter 
If you donated furniture or household items to Goodwill, they give you a receipt and you can claim on your taxes.

Does the same apply to clothing? I have a NWT suit I scored from Saks last year I have not got round to wearing. I paid $379, the suit itself is a Dolce and Gabbana. I no longer need or want the suit, it is unworn, still with tags attached and I have the store receipt. Could I donate it to Goodwill and would I be able to claim the original amount when I file for taxes?

Part of me feels uncomfortable with this train of thought, that perhaps it is unethical and I am out of line. Another part of me is looking at an easy way to get rid of suits without having to sell them shog[1].gif .

I want to see if anyone else has done this, or what your feelings are regarding ethics of doing so.

I have seen Hermes stuff in thrifts and someone must have paid a stink load for it and then just dumped it off. Begs the question, are these Tax deductable goods or am I being too cynical regarding the generosity of people?
Reply
Reply
post #2 of 6
12/8/11 at 8:56pm
You can dump a bag of hanes t shirts and declare your $500, especially if you spend a lot on clothes. You would be better off dropping a bag of meh stuff and selling that suit on eBay.
Reply
Reply
post #3 of 6
12/8/11 at 9:20pm
Thread Starter 
Quote:
Originally Posted by SpooPoker View Post

You can dump a bag of hanes t shirts and declare your $500, especially if you spend a lot on clothes. You would be better off dropping a bag of meh stuff and selling that suit on eBay.

fing02[1].gif
Reply
Reply
post #4 of 6
12/11/11 at 10:18pm
Yes, the limit you can deduct on donated items without a lot of paperwork is $500, which I generally had no problem reaching even before I was on this forum (granted, a lot of that was due to my wife). Sell the D&G, what size is it, haha.
Reply
Reply
post #5 of 6
12/12/11 at 6:39am
+1 to Spoo's comment.

Also, and I'm not sure how relevant this is to others on the forvm, but I have been told by my agency's accountant (who has a side consultancy that advises clients in the creative industry) that most everything you do on a day-to-day basis can be written off if you are in advertising or design. He said clothes, movies, concerts, magazine/movie subscriptions, even video games can all be considered for writing off because the rules are written as such that these activities expose you to competitors or allow you to further your cultural knowledge. Basically by taking in more culture you are doing research that you can present to your clients.

It sounds awfully intriguing and come March/April I will probably have to have a serious chat with him, but it did get me thinking. Has anyone else heard of/experienced this?
Reply
Reply
post #6 of 6
12/12/11 at 6:46am
Klobber, it does apply to clothing. But expect the receipt to value they will think it is worth (less than $50).
Reply
Reply
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Men's Clothing
Styleforum › Forums › Men's Style › Men's Clothing › Tax Deductable Clothing?