Can you donate speakers to charity?

Hantra · « **on:** 5 Mar 2003, 03:18 am »

All:

If you have speakers, or other components that just won't sell, is it possible to just donate them? To whom? ? ?

I am thinking that a tax writeoff looks mighty nice for 2003. That may be the only benefit I get from this purchase. . .

B

BikeWNC · « **Reply #1 on:** 5 Mar 2003, 03:25 am »

Hey B,

I would think that a church might have need for some speakers in the classrooms or youth hall. Any non-profit organization would qualify for the tax write-off though.

Andy

Rob Babcock · « **Reply #2 on:** 5 Mar 2003, 08:49 am »

Not if they're BOSE!

Hantra · « **Reply #3 on:** 5 Mar 2003, 01:08 pm »

I WISH they were Bose. Then I could at least SELL them. . Right now, they are nothing more than boat anchors. . .

B

Tonto Yoder · « **Reply #4 on:** 5 Mar 2003, 02:12 pm »

I assume you're talking about the Michael Green speakers you had on eBay. Would a charity give the full retail as a write off figure or would they calculate a fair market value closer to the 2K that was bid???

Audio Al · « **Reply #5 on:** 5 Mar 2003, 02:28 pm »

You could donate those anchors to Green Peace

Then send Green an email and let him know what his product is good for!

Hantra · « **Reply #6 on:** 5 Mar 2003, 03:13 pm »

Tonto, those are the ones. I wonder too. If they'd give me full retail, I'd do it in a second!

I am not touching that Al. . .

John Bauder · « **Reply #7 on:** 5 Mar 2003, 05:07 pm »

You can donate them to the Goodwill. They would love to have them. They will give you a receipt for the item but it is up to you to decide on a value for your IRS return. There are rules about it - you should put down a market value.

cjr888 · « **Reply #8 on:** 5 Mar 2003, 06:37 pm »

Opposing Opinion.

You CAN donate them.

No tax benefit or good feeling that poverty stricken children will get good sound, but you can always send them to my address and make me happy.

You might want to make some calls to the manufacturer mentioning that you really need to sell, and if they have any thoughts...you never know, they might be able to connect you with someone that's looking for their products, but where they are blatantly aware that they won't buy new..

Outside of that, if they aren't selling through the usual classified and auction routes, I'd start browsing through the dealer list on Audiogon looking for dealers that might buy them but obviously at a good discount. I think places like Jeff's Sound Values and some of the others will do straight purchases and not just trades....

mvwine · « **Reply #9 on:** 5 Mar 2003, 08:24 pm »

If I can give some free tax advice -

You most certanly can donate them, and get a tax deduction, but it won't be for full retail. The IRS allows "fair market value". For electronics, the most likely place to geet fair market value is usually a blue book (Orion), however Michael Green speakers will not likely be found in a blue book. So, good places to find FMV would be E-bay sales (if any), or if you had them up for auction, the high bid might work. Or high bids on other auctions for the same model.

In an audit, the IRS will probably be amenable as long as you have a reasonable basis for your value, and documentation.

Michael