Archive for Donate to a Cause

Timeshare Donation Tax Deduction – Friend or Foe?

Why would charity want timeshare donation?

Why would charity want timeshare donation? There are better ways to help the world than to try to cheat on your taxes!

Timeshare donation is a complex and often devious way to try to get rid of a timeshare. A timeshare donation tax deduction can lead you down a path to becoming the target of an IRS audit and/or significant fine.

Timeshare donation scams can be avoided by doing your due diligence and scouring the internet for timeshare donation reviews. One of the most common timeshare donation scams involvesĀ timeshare donations to veterans. Several timeshare donation companies have gotten in trouble with the law by claiming they process or facilitate timeshare donations to charity.

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Tax Issues in Donating a Timeshare to Charity

Donating a TimeshareDonating a timeshare to charity usually seems like an enticing way to get rid of a timeshare due to the possibility to get a tax deduction following timeshare donation.

Timeshares are vacation villas or condos that several people share the ownership and usage of. When you buy a timeshare in the United States you will usually have legal deed to the timeshare property. The title to the property will usually include your name, as well as the names of the other timeshare owners, on the deed.

You are allowed to legally get out of your timeshare contract whenever you choose, as would certainly hold true with other types of real estate holdings, by selling or giving away your timeshare interest. Regrettably, there is a nearly non-existent demand for re-sale timeshares. When and if timeshares are actually sold, it is almost always at a huge loss as the bottom has completely dropped out of the market and there is a glut of available timeshare properties. It’s usually not possible for timeshare owners to succeed in selling their timeshare interests for any amount of money. Read More→

Donate to a Cause

Donate to a Cause

The “donate to a cause” option of getting free of a timeshare contract may seem an ideal way to give back to society while also getting rid of your own timeshare financial obligations.

This has been a frequently recommended timeshare contract cancellation method in the past, but recently stories have surfaced exposing that the donate to a cause option to may be a treacherous path to timeshare freedom.

Nationally renowned consumer advocate Clark Howard, who in the past highly recommended a particular company that facilitated the donate to a cause option, it seems has since rescinded his endorsement of the company due to the what some have claimed to be inaccurate advice the company was giving to its clients regarding tax write-offs.
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