Frequently asked questions
What is the most you can claim for charitable donations?
The IRS has a limit on giving, but even if your heart exceeds the IRS maximum, you may still be able to benefit from your generous spirit. You may deduct a maximum of up to 50% of your adjusted gross income (AGI) (Line 36 on IRS Form 1040) for the tax year the donation was given. However, if you give more than 50%, the excess may be carried forward for up to five years. Be aware that the 50% rule applies to most contributions, but certain contributions may have lower limits.
A contribution of less than $250 requires a receipt from the charity showing the charity's name, the date of the donation, and the location and description of the property donated. In addition to a receipt, donations between $250 and $500 require written acknowledgment of your contribution from the charity, stating whether the organization gave you any goods or services as a result of your contribution.
Donations of property valued between $500 and $5,000 require detailed records of how you initially got the property and the approximate date you received it, in addition to a receipt and written acknowledgment. You must file Form 8283, Noncash Charitable Contributions, for all donations of property valued at more than $500. In addition to every requirement stated above, contributions over $5,000 require a written appraisal from a qualified professional.
Where can I donate for tax deductions?
You can deduct contributions of either money or property to religious or service organizations, like churches, United Ways, Goodwill Industries and the Red Cross. These generally need IRS 501(c)3 tax-exempt status. You also can deduct donations to governments to support things like parks and recreational facilities. In general, you are limited to 50% of your gross income.
"Qualified organizations" include nonprofit groups that are religious, charitable, educational, scientific or literary in purpose, and nonprofit groups that work to prevent cruelty to children or animals. The following types of organizations qualify for a deduction:
-Churches, synagogues, temples, mosques and other religious organizations.
-Federal, state and local governments, if your contribution is used for public purposes.
-Nonprofit schools and hospitals.
-Public parks and recreation facilities.
-Salvation Army, Red Cross, CARE, Goodwill, United Way, Boy and Girl Scouts, etc.
War veterans' groups.
-Expenses paid for a student living with you, sponsored by a qualified organization.
On the other hand, the types of organizations below
do not qualify for a charitable deduction:
-Civic leagues, social and sports clubs, labor unions and chambers of commerce.
-Foreign organizations (except certain Canadian, Israeli and Mexican charities).
-For-profit organizations.
-Lobbying or lawmaking organizations.
-Lottery, bingo or raffle tickets.
-Dues, fees or bills paid to social or recreational clubs.
-Homeowners' associations.
-Individuals.
-Political groups or candidates for public office.
How do we bill?
Hourly rate
Invoice sent out every 2 weeks
Includes: Labor and Materials
Materials are charged at cost plus 3% tax. Most General Contractors mark up materials at least 10%. We don't believe that's the best model for our clients.
What are our qualifications?
Licensed, bonded and insured
Why is Staging Important?
Staging accentuates what is already in the house and helps potential buyers visualize how to use the rooms. Staging creates an intentional flow of the house drawing attention to special details. It is also important to have a clear vision when it comes to staging a home. You do not want the potential homebuyer to be confused or put off by the staged furniture - staging should add a great deal to the home.
In a 2013 study looking at nearly 170 staged properties valued at $300,000 to $499,000, RESA — which obviously has a vested interest in the matter — said that those homes were sold in 22 days, compared with an average on-market time of 125 days for unstaged properties.
The marketing photos are better when rooms are staged and draw in a bigger audience.
Staging is mutually benefitial for the buyer and the seller.
What Are Your Working Business Hours?
We work regular business hours: Monday-Friday 8:00am-4:00pm
We also work weekends as needed but try to stick as closely to our M-F hours.
Our Estate Sales are over weekends.
What Happens to all of the Items Left in the Estate?
Once we are hired and given access to the home we begin our inventory process.
Every item is accounted for.
We begin with separating items into four categories: Personal, Donation, Resale Market, Garbage. All financial statements, other paperwork, photos, jewelery, and money are carefully packaged up for the heirs. All other items are photographed, inventoried and packaged up so repairs can begin. All pictures are sent to our client for review ensuring that all wanted items are claimed. We try to re-home as many items as possible and have an extensive list of local charities we donate to regularly. All items that have resale market value are listed on our Online Store. We typically also have an Estate Sale on the property once repairs are finished. All profit from the sale of the items are given to the family.
How Do We Get Materials?
While most Contractor markup materials, we bill for materials at cost plus 3% tax.
We are also very intentional and resourceful when it comes to researching materials (and task management). We get most of our materials from Dunn Lumber, Home Depot, Lowe's, McLendon's, and Amazon. We always do price comparisons.
We are often able to re-use items from our inventory or find materials under retail. However, we will not neglect quality so make our best judgement to find the right materials for the best price.
What Is The Entire Process from Clearing to Marketing Your House?
1. Initial Walkthrough and Project Estimation
Our team would come to the property for a full property walk through. Our walkthroughs are very thorough as we note every noticeable repair that we would recommend for bringing the house up to highest market value. Once walkthrough is complete we write up a detailed bid to send to the client. The bid includes all of the basic repairs we highly recommend before listing the house. We also usually include some optional repairs that will enhance the property and increase market value but are not necessary for selling.
2. CMA and Property Inspection
Once the estimate is accepted and we are hired on we begin the work with a full property inspection and CMA. We work with several listing agents and one of the services we provide at no additional cost is a Comparitive Market Analysis. A comparative market analysis is an examination of the prices at which similar properties in the same area recently sold. Real estate agents perform a comparative market analysis for their clients to help them determine a price to list when selling a home. This information is of great value!
We also work with a Certified Inspector to complete a Full Property Inspection.
2. Inventory and Clearing
We begin our process by taking inventory of every item in the house. The items are divided between: Personal (Jewelry, Pictures, Financial Statements, Other Paperwork), Re-sale Valued Items (Listed on our
Online Store and running local Estate Sale), Donation and Garbage. All of the items are photographed before put in boxes.
The heirs are given the Personal boxes and the photos of everything else they'd like to claim before it gets sent to its next home. All of the profit from resale of items is given to the family.
3. Repairs and Renovation
Repairs begin once the property is cleared. We can offer almost any service with our team which keeps overhead to the minimum. Our head contractors has over 35 years experience. All of our employees are background checked and highly skilled. We can contract out for any repairs or renovations outside of our scope of practice.
The repairs we propose for the property are those recommended to bring the home up to the highest market value.
4. Staging
Staging is one of the best way to display the home's potential. It creates an intentional flow of the property and helps potential homebuyers visualize living in the space.
We will be gathering the appropriate staging items throughout the job taking care to find items that will accentuate the home. Often times we can re-use items in our inventory which allows us to add more "sizzle features" to the property. We have found that "sizzle features" truly makes our properties stand out when listing. Sizzle features are ways we can bring other elements to the property to appeal to potential homebuyers. Some sizzle features we've included in homes are: Ring doorbell, security cameras, hand-crafted firepit, raised garden beds, solar lights, bluetooth shower speakers, freestanding acrylic tub, privacy fence to conceal neighbor's yard, RV parking area, etc.
5. Listing Property
We have great partnerships with highly experienced local Agents. We prefer to work with our own Listing Agent which saves the client money. Brokers who trust our abilities to sell at higher prices negotiate with us for lower comissions. On average, our clients save $15,000+ in listing fees alone. Our clients have always been very satisfied with the final sale price of their homes.
