Turn vacant land, industrial land, residential property, or commercial property into an impressive tax deduction. When you donate property that you no longer wish to own there are excellent tax deduction possibilities.
If your real property asset has grown in value but has become non-producing it may be the time to consider a real estate donation. If you or family members inherited property and just don't want it you can have a capital loss tax deduction in the current year. Donate it and bring down estate taxes.
Capital gains taxes draining your bank account? Do you have and investment property that is not producing? Donating it to World Pet Organization can provide you with a great tax deduction.
The size of the tax deduction is determined by the current market value of the property, as opposed to the cost of the property when it was purchased.
Many people hold on to idle real estate for lack of a better alternative, continue paying taxes, maintenance and upkeep costs, state and city fines etc, without ever seeing any return on their investment.
Some of the reasons owners consider donating their real estate include worthless land, land that can't be sold, problem land, landlocked land, current property taxes too high and land taxes keep going up.
Delinquent taxes (back taxes) in arrears can adversely affect your credit score. Homeowner and property associations send delinquent hoa and poa fees accounts to collection agencies.
Real estate donation is a win-win situation, benefitting all involved. You can also get full appreciated value for your real estate though the Bargain Sale program in the form of cash and a tax deduction.