Bruce’s Poor Man Survival Bulletin
A Digest of Urban
Survival Resources
ISSN 2161-5543
In This
Issue:
1. Things you might not know about charity
donations
2. How others are doing good in their
community
3. Legal assistance options
4. A Fix for US Jobs
5. Lots more free resources to help
boost your life
Better to dwell in the wilderness, than with a
contentious and angry woman.
--Proverbs 21:19
Donating to charity - things you might not know
If you’re a thrift store
shopper you’ve no doubt noticed a significant uptick in prices charged on items
at the Salvation Army, Goodwill and other non-profit stores, especially if
you’re shopping for a used vehicle at what’s become another fundraising channel
for many of these groups.
The reasons vary but
it boils down to this. First and
foremost, these groups are a business, a big business and they pay their CEOs
accordingly. The CEO of the Arizona
Goodwill, for instance, is reportedly paid more than $354,000 annually. The person running the Salvation Army makes a
fraction of that.
Source:
Like any other business they have expenses
and overhead and given current market conditions, the charities are
capitalizing on demand (higher the demand, the higher the prices). When it comes to auto sales, they charge as
close to Blue Book value as possible to cover their towing and other costs while
maximizing revenue.
If you shop thrift
stores in order to find items worth reselling, your profit margins have been
cut dramatically from these recent price hikes.
It is ironic how often store managers will place a printout of what an
item is selling for on eBay next to a ‘collectible’ piece and then price it at the same or
slightly lower than featured on eBay. They seem to forget they’re quoting the
asking price, not what the item actually sells for.
Goodwill and Salvation
Army, for instance, often charge more for used clothing than what you can pay
for new clothing, especially if you shop sales at many discount stores. Ironically, a huge profit center for these
organizations is the bulk sales of used clothing to ‘rag’-vendors, who in turn,
sell or donate them to third-world countries.
I’ve always maintained
that Americans own enough clothing to outfit the entire planet, yet it is a
common sight to see women, on sale days, with one or more shopping carts over
flowing with clothing. In Arizona, this
was especially common among Mexicans who send these garments back to relatives
in Mexico.
How Do I Handle Deductions for Non-Cash Donations to a Charity?
There are rules for
non-cash donations such as property or outdated clothing, household
furnishings, or office equipment.
For property owned for
more than a year, the deduction is usually equal to the property's fair market
value. Appreciated property can be deducted at the full fair value of the
property, meaning that you are never taxed on the appreciated amount.
Donated goods
must be in "good condition or better," according to the IRS. You must
have a receipt for the goods from the charity to claim a deduction. If you
donate non-cash items with a total value of more than $500, you must file Form
8283 with your return. You may need a qualified appraisal if you donate an item
or a group of items with a value of more than $5,000
Is it worth
your while to shop thrift stores? I
believe it is, as ultimately, you are helping charities, which in turn, help
others who are in need. In this issue
we’re going to point out how some Americans are helping fellow citizens through
good works.
Clumsy? Avoid cutting yourself
while slicing vegetables by getting someone else to hold them while you chop
away. (Source: Martha’s Other Hints)
PM’s ‘Betty Shocker’
Emporium of useful stuff…
eBay to
Require More Generous Return Policies in SR2 Announcement
eBay's second round of changes for the year will roll out
beginning August 22 and will be the last seller update for 2011.
Sellers will get an extra 25 characters in their titles, and eBay
told sellers it would begin requiringmore generous return
policies early next year that include longer timeframes and
cash-back options.
http://www.auctionbytes.com/cab/abn/y11/m07/i12/s00
eBay's second round of changes for the year will roll out
beginning August 22 and will be the last seller update for 2011.
Sellers will get an extra 25 characters in their titles, and eBay
told sellers it would begin requiringmore generous return
policies early next year that include longer timeframes and
cash-back options.
http://www.auctionbytes.com/cab/abn/y11/m07/i12/s00
Don’t throw out the water from the fish tank – pour it
on your garden as a fertilizer.
Call overseas – free
Freephone2phone.com
gives you 10-minutes of free talk to landlines in 50 countries – listen to a
few short ads, then connect.
Cheap Textbooks
Cut the
average $1,000 annual book bill for college kids by using these sites: Bartelby.com,
Gutenberg.org or rent them at: Chegg.com or CampusBookRentals.com
Compare Costs – Compare checking account plans at banks and credit unions at: FindaBetterBank.com
and BrightScope.com compares 401(k)
plans and financial advisors.
For
the Right Kind of Legal Problem, Public-Interest Law Firms Are a GREAT Option
If your
case has serious legal, social, or political implications, it might be of
interest to a non-profit public-interest law firm. If a public-interest firm
takes up your case, you could enjoy free representation from a staff committed
to more than just raking in the cash.
If you’re
battling against a coercive government agency, for example, you might consider
bringing your case to the attention of the Institute for Justice (202-955-1300;
www.ij.org), which helps people whose property, civil, or constitutional rights
have been violated by government bureaucrats.
The Rutherford Institute (434-978-3888;
www.rutherford.org) defends civil liberties and property rights, including the
rights of small businesses. The Institute has offered its legal resources to
individuals and businesses whose Constitutional or civil rights have come under
attack.
If someone
from the government is trying to shut you up or invade your privacy, the
American Civil Liberties Union (888-567-ACLU; www.aclu.org) may be able to help.
The ACLU takes on some bizarre and questionable cases for sure, but they will
often defend freedom of speech to the end, whether you’re an anti-war protestor
or a high school student or a neo-Nazi or an Ordinary Joe. Contact the ACLU if
you think your First Amendment rights are being infringed.
If
you’re battling a labor union, let the National
Right to Work Legal Defense Foundation (800-336-3600; www.nrtw.org) know
about your case. Right to Work attorneys may be able to argue your case free of
charge; if not, they can provide you with basic information about your rights
and the types of strategies you might pursue for beating the union bosses.
Ease a dry night cough by sprinkling the pillowcase
with apple cider vinegar.
Acts of Kindness – How others are helping…demonstrating
our CAN DO philosophy!
·
Repair old bikes and give them away to the needy. Tom Hillebrand of Wis., a retired
architectural designer, finds old bikes, repairs them and provides them to
children and even folks without a car who otherwise couldn’t get to a job – 138
bikes so far.
·
Build a local tool library.
Aided with a $20,000 local grant Patrick Dunn and friends opened the
West Seattle Tool Library, a DIY center offering workshops and loaning tools
from a stock of 1,300 manual and power tools…people come in to build everything
from a chicken coop to home improvements.
·
Building free bus shelters in Texas is what non-carpenter Omwali
Lumumba does to help area kids withstand the heat. All have benches and he places motivational
flyers in each. Much of his material is
donated and he gets more from the Habitat for Humanity’s ReStore
(habitat.org/restores) which sells donated building supplies.
Source: Popular Mechanics-August 2011
What might you
do to make an impact on your local community?
Share your story with us and get a free copy of our new CD ROM - Poor
Man’s Practical Guide to Self Sufficiency
Wipe down cutting boards weekly with vinegar to clean,
cut grease, and absorb smells.
The Nanny State Updates
20% Drop in
Housing to Cause Recession in 2012, Says Gary Shilling
Gary Shilling,
President of A. Gary Shilling & Co. and author of the Age of Deleveraging says another recession is brewing -- no matter what
action the Fed takes. "Economic growth here and abroad is slipping, making
a 2012 recession a distinct possibility," he writes in his July
newsletter. And, "when you have slow growth it doesn't take much of a
shock to throw you in negative territory."
Sneaky Dog Owners…after a New Hampshire apartment
complex required dog owners to submit a DNA sample from their pets, so that
unscooped poop can be traced. Some
residents are saying this is ridiculous but the complex says “I’m sure those
are the people who are doing this.”
39% of Americans say the US economy is in permanent decline, up from
28% in October – CBS News
A Fix to restore American Jobs – the
Parting Shot
If the country would
like to generate more jobs for people, they must also create more businesses
with openings for people to take. That is why The Huffington Post has shared a few ideas on how the government can help
entrepreneurs jumpstart job creation.
1) A 30 percent refundable tax credit for members of
accredited angel groups for investments in U.S.-based startups. This credit
would be refunded in the first fiscal year the investment is made.
Encouraging angel investment is not only good
conceptually, but there’s precedence for its ability to increase funding for
innovative companies. In British Columbia, where a similar program was
instituted, 80 percent of angel investors who received the credits increased
the amount of their investments. Ultimately the program also benefited
taxpayers, with every $1 of angel tax credits resulting in $1.41 of additional
tax revenue from the recipient companies.
2) 100 percent exclusion on corporate income tax for
qualified small businesses on their first taxable year of profit and 50 percent
exclusion on the following two years of profit.
The idea behind this recommendation is that if a
fast-growing company is able to avoid all its corporate income taxes for a year
and pay at 50 percent of its regular rate the next two years, it can invest
that precious cash into the business and grow more quickly.
3) Reducing the time it takes for SBIR/STTR grants to
be approved from the current average rate of six to 12 months, to three months.
Beyond the
technical progress it allows, what’s even better about these government grants
is that they don’t need to be repaid and don’t dilute ownership in a company.
It’s simply money companies need to continue developing cutting-edge
technologies. And when an entrepreneur is working feverishly to get a new
technology through the commercialization process, time really is money.
Speeding up the process to know if you have up to $1 million on the way just
makes sense.
That’s it for
this issue from your humble public servant, the Poor Man
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