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We tend to go to thrift stores to find good deals and to save money. But have you ever thought about making money at a thrift store instead?The idea is to buy items that you can resell at a higher price online.Ecommerce expert Glen Zubia buys and sells items for a living on sites like eBay and makes up to ,000 a month.So what are the things to look for? “First probably go electronics; electronics people buy DVD/VHS combos, old video games,” said Zubia.When first starting out, he suggests you stick with familiar items. For example, Zubia suggests items related to pop culture, Disney items, and certain exclusive products tied to sports teams. "And then of course, vintage always comes back," said Zubia.If you go to a thrift store and see an item you would never buy, just know there is likely someone out there who would. The key is to do some quick research online to find out what people are wanting and how much they are willing to spend.Zubia points out that just because something is listed on eBay at a certain price, it doesn't necessarily mean it will actually sell for that price. "But the completed listings will tell us, 'okay this is selling for ,' here it is in my hand for . Now I have an expectation to make a certain amount of money,” said Zubia.There are other sites besides eBay where you can sell your items like Tradsey, Poshmart and Amazon. Zubia recommends first time eBay sellers build their clientele before pricing items high.“You’re at zero. A lot of buyers aren’t going to trust you right away. So, it’s always good to start off with stuff you already have, cheaper items, building up your feedback and then you’ll get more customers coming in,” said Zubia.Also, don’t just limit yourself to thrift stores to find these money-making treasures. Try shopping at garage sales, yard sales and swap meets. 1933
WASHINGTON (AP) — The Trump administration has laid down rules aimed at preventing residents in high-tax states from avoiding a new cap on widely popular state and local tax deductions. The action over the new Republican tax law pits the government against high-tax, heavily Democratic states in an election-year showdown.The Treasury Department's rules released Thursday target moves by states like New York, New Jersey and California — where residents could see substantial increases in their federal tax bills next spring because of the ,000 cap on state and local deductions. Experts say the issue likely will have to be resolved by the federal courts.Four states — Connecticut, Maryland, New Jersey and New York — already have sued the federal government over the deduction cap, asserting it's aimed at hurting a group of Democratic states and tramples on their constitutional budget-making authority.A dozen states have taken or are considering measures to get around the cap. Most of the workarounds take advantage of federal deductions for charitable contributions — which aren't capped — in place of the old deductions for paying state and local income taxes. So people's state and local taxes exceeding ,000, which can't be deducted, are turned into deductible charitable donations.The new rules' "dollar-for-dollar" limit also applies to many other states that already have charitable funds offering tax breaks, senior Treasury officials said. Those states include solidly Republican ones and others with relatively low taxes. In those programs, donors to schools, hospitals or land conservation programs can get their state taxes reduced in return — plus a charitable deduction on their federal tax returns.The limit means taxpayers only can deduct as a charitable contribution the portion of their donation for which they don't also get a state tax credit.But some experts said the Treasury rules seem to be designed to protect those existing charitable programs in some states. An exception to the "dollar-for-dollar" requirement "plainly appears to be designed to protect certain ... pre-existing state regimes," said Daniel Rosen, a tax lawyer at Baker McKenzie who is a former IRS official.Treasury said it expects that only about 1 percent of all U.S. taxpayers would see a reduction of their tax credits for donations to private-school voucher fund. Several states — Alabama, Arizona, Georgia, Montana and South Carolina — allow taxpayers who donate to private-school funds to get a 100 percent credit against their state taxes, according to data compiled by the Institute on Taxation and Economic Policy.___HOW DO THE LIMITS WORK UNDER THE NEW RULES?Dollar-for-dollar: When a taxpayer receives a benefit in return for donating to charity, the taxpayer should only be able to deduct the net value of the donation as a charitable contribution, Treasury says.An example: You donate ,000 to a charity in a state that offers a 70 percent tax credit, so 0 in this case. You would only be able to claim a 0 charitable deduction on your federal return.There is an exception. If the state tax credits don't exceed 15 percent of the amount donated, so up to a 0 state tax credit on a ,000 donation, the taxpayer could claim the full amount as a charitable deduction.___WHY IS THIS IMPORTANT?Taxpayers could have less incentive to donate without getting a deduction or having the deduction reduced.All states rely on property and income taxes to fund an array of services such as education, health care and public safety. Advocates for restoring the full state and local deductions say that the reduced property tax deduction brings a decrease in the value of taxpayers' homes, possibly spurring residents of high-tax states to move elsewhere and crimping funding for local programs.___WHAT'S HAPPENING IN THE HIGH-TAX STATES?Measures designed to work around the ,000 cap have been adopted in Connecticut, New Jersey, New York and Oregon, and introduced or explored publicly by officials in California, Illinois, Maryland, Nebraska, Rhode Island, Virginia, Washington and the District of Columbia.New York Gov. Andrew Cuomo, a Democrat, has called the state-local deduction cap an "assault" on New York by Trump and Republican lawmakers in Washington.In some key "blue" states:—Connecticut has a new law establishing a state charitable fund; donors can get tax credits in exchange for giving.—In New Jersey, where high local property taxes are the major issue, the state is allowing local schools and governments to use the charitable workaround. But so far, no towns have notified authorities that they've set up funds to receive contributions — because state regulators haven't issued the necessary rules, experts say.—New York is offering three options: One like Connecticut's, one like New Jersey's and another to let employers pay payroll taxes for employees, who would receive credits to cancel out the income taxes they would have paid otherwise.—In Maryland, about 500,000 residents — over 18 percent of state taxpayers — will together lose .5 billion in state and local deductions, according to state estimates.___Mulvihill reported from Cherry Hill, New Jersey. Associated Press writer Michael Catalini in Trenton, New Jersey, contributed to this report. 5305
WASHINGTON (AP) — The Pentagon is banning displays of the Confederate flag on military installations, using a carefully worded policy that doesn’t mention the word ban or that specific flag. The policy is laid out in a memo signed by Defense Secretary Mark Esper obtained by The Associated Press. It was described by officials as a creative way to bar the flag’s display without openly contradicting or angering President Donald Trump, who has defended people’s rights to display it. "The flags we fly must accord with the military imperatives of good order and discipline, treating all our people with dignity and respect, and rejecting divisive symbols," the memo reads. The memo lists the types of flags that may be displayed at military installations, such as the U.S. and state banners and the POW/MIA flag. The Confederate flag is not on the list.The change applies to all "public displays or depictions of the flag by Service members and civillian employees in all Department of Defense work places, common access areas, and public areas." Other uses of flags not on the list are not prohibited, such as museum displays, educational purposes, grave sites, monuments or other such areas. 1203
WASHINGTON (AP) — The U.S., Canada, and Mexico have agreed to keep their shared borders closed to non-essential traffic until at least late August because of COVID-19. Acting U.S. Department of Homeland Security Chad Wolf announced the agreement Thursday. He said restrictions on cross-border traffic that have been in place since March have helped slow the spread of the coronavirus. Canada Prime Minister also made the announcement during a news conference on Parliament Hill.The extension agreed to by the three countries would keep the border closed until Aug. 21. The partial closure restricts crossing to commercial traffic, people returning to their home country and other travel deemed essential. It prohibits people from traveling between the countries for tourism or shopping. 794
WASHINGTON (AP) — President Donald Trump’s older sister, a former federal judge, is heard sharply criticizing her brother in a series of newly released recordings, at one point saying of the president, “He has no principles.”Maryanne Trump Barry was secretly recorded by her niece, Mary Trump, who has released a book denouncing the president. Mary Trump said Saturday she made the recordings in 2018 and 2019. At times Barry speaks critically of what she says is her brother's tweeting, lack of preparation and lying. In a statement, the president says, “Every day it’s something else, who cares." 606