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Resort Holding's and Adoptacare Announce Vacation Donation Partnership Through ResortBailout.com
Adoptacare is proud to announce an exciting agreement with Resort Holdings, and their program ResortBailout.com a leading company in the ”Timeshare Transfer Industry”.
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