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Follow on Google News | Resort Holding's and Adoptacare Announce Vacation Donation Partnership Through ResortBailout.comAdoptacare is proud to announce an exciting agreement with Resort Holdings, and their program ResortBailout.com a leading company in the ”Timeshare Transfer Industry”.
By: Adoptacare.org Press Release 3.18.13 (http://www.adoptacare.org/ Adoptacare is proud to announce an exciting agreement with Resort Holdings, and their program ResortBailout.com a leading company in the ”Timeshare Transfer Industry”. The ulitmate purpose of this agreement is to allow for Adoptacare to facilitate for orphans and foster families the access to timeshare vacation properties.” A National Ministry whose purpose is to promote, educate, and encourage Adoption & Foster Care, cultivated in a Christian based environment of events, media and activities. All while celebrating adoption as God predestined us for adoption to himself through Jesus. A Few Benefits of Donating a Timeshare Baring repossession the options for getting rid of a timeshare are either donate it or sell it. Renting it can be difficult, and most prefer not to be encumbered with various negative nuances of long distance renting. An alternative with positive advantages is to donate a timeshare. This option offers lucrative tax deductions and benefits which include: Avoid the selling process, which for timeshares is often very difficult You can gain more with a tax write-off than keeping a timeshare that never sells Cease the ongoing maintenance fees for a property you may not be using You can help a praiseworthy cause, in this case children that currently do not have a forever home Less time consuming and nearly hassle free What are the Tax Implications? Each individuals Timeshare, because of location and obvious variables unique to each property, will yield that properties specific tax basis. However, here are some certainties we can provide. A donated property with a tax position of $500. or more will require the Donor to file a Non Cash Charitable Contribution IRS Form 8283 (http://www.adoptacare.org/ Your tax deduction is based on the current fair market value, not the original purchase price Your “Tax Receipt for Donated Goods” will be near to 80% of the current fair market value A property whose fair market value is over $5,000. will be required to have an CMA Appraisal (Comparative Market Analysis) CMA (http://www.adoptacare.org/ Related Processing Details Adoptacare in conjunction with Resort Holdings and their program ResortBailout.com DOES NOT CHARGE additional fees for your appraisal Accepted are both “Deeded” & “Right to Use” along with accumulated points Simply allowing the a charity the use of a Timeshare is not a permissible deduction by the IRS Donors names are completely removed from ownership and further liability Paperwork is handled jointly between Adoptacare and Resort Holdings We can work with most International Donors Transfers are completed within 12 weeks or less Always seek legal and/or tax counsel to best suit your independent tax needs . End
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