Donate Real Estate: You Get Tax Deductions For Charitable Giving.

August 30, 2009 by  

Donating real estate is getting pretty easy these days. The reasons to donate real estate are getting pretty compelling too.  You may not be getting enough income from the business. Fair market value for your property might be far higher than the actual price you’d realize from the sale of your property. Actual sales price can be much less during those times in which there is a distressed market.  People say we’re in such a time. Maybe you need to make the sale quickly. You won’t be able to do the deal in a timely way at fair market rates. I know. A buyers market is just a nice way to say they have a license to steal from you. But what can you do?

To donate property–whether that be  your own house or your commercial property — can make sense.

A charitable gift of land, homes, even a fur  can result in a significant   reduction of taxable income. The animal rights group PETA will not complain. If need be, you can donate the whole house–furniture and all – to charitable causes. But don’t donate your cat. Donate real estate. Take your pets with you.

The benefits of  making a donation of  your property  can be better than selling. Why? Due to the quick liquidation of assets? Sure. You also get the opportunity to benefit charities and families with  needs. Charity is great. Find your favorite non profit and make a noncash contribution. Last — but not least — charitable contributions can be used to give you fair market value deductions of your property on your taxes.

MatchingDonors, a 5013C non profit– is rapidly becoming the most recognized 5013C organization for donating real estate. They arrange for you to get a tax deduction at fair market value. Then they’ll move the property quickly anywhere in the United States –including Alaska and Hawaii

Organizations like  MatchingDonors give you an assessment on your property at fair market value for tax purposes, sell the the property quickly and give a percent of the proceeds to the institutions of your choice. These can range from institutions devoted to education  like Hillsborough College, or great non profits like Habitat For Humanity or Cancer Research or even PETA. Humanity is served and so are you.

There are several other organizations that do this including Donating Real Estate, Real Estate With Causes, and 1-800-CHARITY CARS.

Some local organizations in the state of California that facilitate this work are include the San Diego Charitable Real Estate Foundation, Real Estate Trust at Silicon Valley Community Foundation.

Comments

36 Responses to “Donate Real Estate: You Get Tax Deductions For Charitable Giving.”

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    Dipsh#t. Go peddle your feeble defense of the indefensible elsewhere.]]>

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