Now Accepting Charitable Real Estate Donations!
Now Accepting Charitable Real Estate Donations!
A direct gift is the simplest method of donating real estate. The deed or title is transferred from the donor to the charity. As the donor, you generally receive a tax deduction equal to the fair market value of the property and that deduction may be carried forward for five years.
As an option, you may elect to deduct the cost bas
A direct gift is the simplest method of donating real estate. The deed or title is transferred from the donor to the charity. As the donor, you generally receive a tax deduction equal to the fair market value of the property and that deduction may be carried forward for five years.
As an option, you may elect to deduct the cost basis of long-term appreciated assets instead of the fair market value, but your deduction will be limited to 50 percent of your AGI. This allows for a larger current-year deduction (50 percent of AGI rather than 30 percent), but if any of the deduction is carried over, the cost basis and 50 percent AGI limit will apply to those carryovers.
Real Estate donations can be used for many purposes depending on the type of real estate and the method of donation. Real estate can be used to provide affordable housing for Veterans, families, and seniors even transitional housing for homeless. It can be used for counseling centers, retreat locations and so much more. It can also be sol
Real Estate donations can be used for many purposes depending on the type of real estate and the method of donation. Real estate can be used to provide affordable housing for Veterans, families, and seniors even transitional housing for homeless. It can be used for counseling centers, retreat locations and so much more. It can also be sold by the non-profit so the funds can be used accordingly.
Maybe you are thinking of donating to charity, but lack the liquid assets to meet your philanthropic goals. Or you’re looking for a way to downsize your real estate portfolio without a huge tax bill.
Please reach out! Whether you are ready to donate now or you just have some questions we are here to help.
Simply call us today and we can demonstrate how your property and our creative techniques can reduce your tax liability, which includes federal, state and capital gains taxes. We can help you lower transfer expenses, eliminate manag
Please reach out! Whether you are ready to donate now or you just have some questions we are here to help.
Simply call us today and we can demonstrate how your property and our creative techniques can reduce your tax liability, which includes federal, state and capital gains taxes. We can help you lower transfer expenses, eliminate management responsibilities and provide mortgage relief. We can also show you to preserve wealth for your heirs while providing social capital for a local nonprofit that serves those in need, your property may even qualify to provide you with a lifetime income stream.
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