Donate Boat In Slip To Charity
Do you have a boat sitting in a slip that has become a burden paying for each month? Let’s say that you are the owner of a good-sized older boat that runs well, but the interior is dated or you simply don’t get out on the water like you used to. Maybe comparable boats in other local markets are going for as much as $18,000, but the best offers you’ve received do far fall short.
Do you want to maximize the sales value you receive as a federal tax deduction? Consider making a boat donation to a national charity that uses knowledgeable representatives to get you the best market value for your donation. Donate your boat with Giving Center!
Before considering a donation, ask yourself the following questions:
- Do I itemize my deductions on my tax return? Only about a third of Americans itemize their deductions, the other two-thirds take the standard deduction. Donating a boat will only benefit you as a tax write-off if you choose to itemize.
- Do I have enough income to offset? The IRS will only allow you to claim charitable deductions totaling 50% of your Adjusted Gross Income (AGI) in a given year. For example, if you donate a boat worth $30,000, in order to receive the full benefit of the donation, you would need to have earned an AGI of at least $60,000. If you usually make additional charitable donations, they also count against that 50-percent limit. However, it is important to keep in mind that the IRS does allow you to carry any remaining amount over for up to 5 years.
Why go through the hassle of trying to sell, when you can donate your vessel today? Giving Center offers an easy and stress-free donation process. Stop paying for slip fees, stop paying for insurance, and start saving your money!
Giving Center accepts all types of boat donations across the United States. Giving Center also offers FREE PICKUP of your charitable donation. Whether you have a California motorboat donation, Florida yacht donation, South Carolina sailboat donation, or even a Hawaii boat donation; Giving Center can help you donate your boat.
You can give a friendly representative (888)-228–7320 or visit their website for more information.
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