Thrift stores have always been a great place to search out deals and hidden treasures on the cheap. From green shoppers looking to buy recycled goods to fashion-forward people who want name brands at bargain prices and those who want to save money, thrift stores attract a wide variety of customers.
With the bad economy, thrift stores are a great way to make your money go further. Many people have discovered this, and sales have increased at most thrift stores across the country in the last couple of months.
Of all thrift stores in the country, 75% had higher sales in September and October than they did in the previous year, The USA Today reported. The average sales increase was approximately 35%.
Though shopping at thrift stores may be a great way to weather the recession for your family, it is also a great way to get additional deductions on your taxes. Since these stores all accept donations, you can claim the donations as a deduction on your taxes.
“We provide tax receipts for all donations,” said Anthony Cotrell, the director of store operations at Santa Fe Salvation Army store. “Donations will pick up significantly with people looking to get in just before the Jan. 1 deadline. We have plenty of stuff to put in our store.”
When you donate to a thrift store, make sure you get a receipt so that you can claim the donations as a deduction on your taxes. Make the donations before the end of the year so that you can claim it on a 2008 tax return.
Other great tips for shopping at thrift stores can be found at Get Rich Slowly.