Have you had trouble selling your vessel for what it is worth?
Is your vessel valued at more than $100,000?
Consider donating your vessel to FOOD FOR LIFE GLOBAL and claim the maximum legal tax deduction based on the gross sale price or the full survey value of your yacht donation!
Action Donation Services® specializes in high value yacht and boat donations and securing for donors the maximum legal tax deduction.
Call us now to speak with an expert about your potential donation to Food for Life Global. There are a variety of ways we can help structure your donation – call us now:
Toll free: 866 244-8464 or 866 2-GIVING and mention you would like to donate your property to Food for Life GlobalStop the high costs of maintaining, storing, insuring, and operating your no longer needed vessel and receive a substantial tax deduction as well! If you have a qualified donation, we will explain the Action Donation Services GuaranteeSMwhich assures the donor that the program meets the requirements of the Internal Revenue Service. Our program assures the donor that they can claim 100% of the gross sale price or the full survey value of the vessel depending on the program selected. Unlike other donation services or charities that limit your deduction to the amount the vessel brings at auction, (usually a mere fraction of full appraised value), theAction Donation Services Tax Advantage ProgramSM maximizes the value of your donations and guarantees that you may claim the maximum legal tax deduction based on the full survey value of your vessel at the time of donation.
Why Action Donation Services®?Action Donation Services® is singularly capable of maximizing your tax deduction for donation of your vessel. Our Action Donation Services Tax Advantage ProgramSM is unique because Action Donation Services® is unique, having the worldwide capability to facilitate and completely renovate any yacht or ship or guarantee your donated vessel will be retained by a qualified and relevant charity for three years allowing you to claim the maximum legal tax deduction based on the survey value of your vessel at the time of donation. Action Donation Services® is the exclusive agent for processing vessels for the BoatU.S. Foundation. Action also represents a wide range of America’s best recognized and most sophisticated charity chapters, including such well-known names asRonald McDonald House Charities, Boy Scouts of America, Paralyzed Veterans Association, Special Olympics and many, many more. For years, these charities have relied on Action Donation Services® sophistication and expertise to maximize their property donation income. That same expertise is now available to the private donors of valuable yachts.
Action Donation Services Tax Advantage ProgramSMRecently passed federal legislation limits donors of yachts and other vessels to meager deductions based upon a charity’s sale price of the donation, usually the price paid at wholesale auction. Prior to the Action Donation Services Tax Advantage ProgramSM, owners anxious to stop crushing monthly financial obligations (slip fees, crew expenses, maintenance, insurance, etc.) were forced to accept this meager deduction or face the agonizing prospect of continuing to pay monthly obligations. This problem is further aggravated when attempting to locate qualified buyers in the midst of a slow market. However, the same federal legislation provides that qualified owners of such a vessel may claim the full survey value if a vessel is donated to an appropriate 501 (c) (3) charity whose charitable purposes are consistent with vessel donations. Action Donation Services® guarantees that all donations will be structured according to IRS guidelines.
Action Donation Services GuaranteeSMAction Donation Services® provides to donors with qualifying donations a guarantee in writing that their donation will be utilized by a qualifying charity such as the BoatUS Foundation – so that the donor may claim the maximum legal tax deduction based on the survey value – “worry-free”. From a 100 ton crane to teams of skilled mechanics, Action Donation Services® is uniquely qualified to fully rehabilitate any vessel. Moreover, Action Donation Services® can pair the donor with an appropriate and reputable charity needing the vessel for its philanthropic programs. For years our nation’s most sophisticated, reputable and best recognized charity chapters have benefited from Action Donation Services® expertise. By means of the Action Donation Services GuaranteeSM, donors of luxury vessels are now provided with the iron clad assurance that they may claim the maximum legal tax deduction possible when they donate a vessel to an Action Donation Services® qualified client charity. Action Donation Services® has thrived by superbly executing two over-riding goals: 1) Superior service to donors and 2) Maximizing the value of donations to benefit both the donor and our client charities. These goals are perfectly harmonized in the professional and competent way Action Donation Services® works with donors of high end yachts and trusted client charities. When appropriate qualified vessels will be taken to our fully equipped shipyard, which has the capability to completely renovate virtually any vessel. If necessary to maximize value, significant material improvements may be made to your donated vessel, including in some cases full bow to stern renovation. We relieve you of the responsibility and cost of selling your vessel. We handle everything for you in a professional and competent manner. The Action Donation Services GuaranteeSM provides you with the “peace of mind” that results from knowing that ownership of your donated vessel will not be transferred from the approved charity for a full three years after donation – entitling the donor to claim the full survey value of the donation according to IRS guidelines. We have a variety of methods that we can use depending on the donation that will maximize the value of the donation for the charity – and which will maximize the amount that the donor can claim for a tax deduction. Once you pledge your vessel to one of our qualifed client charities, we take care of everything — you are relieved of all the details and your donation is completed in a timely fashion! Call today and discuss the details of your potential donation with one of our experts. Action Donation Services® regularly goes the “Extra Mile” to increase the value and selling price of donations. Our experts determined that this donated 41′ Viking – donated in Florida would bring a higher selling price in Southern California – so they had the flybridge removed and transported the vessel clear across the country to our west coast refurbishing facility!
Practical Tax Implications:Since its founding the United States of America has recognized the powerful benefit that organized charities provide its citizenry. In recognition of that ideal, registered 501 (c) (3) non-profit charitable organizations are allowed to receive donations in a manner providing tax incentive to donors. Applicable tax laws allow for donors to deduct charitable deductions of up to 50% of a donors’ annual income not including possible state tax deductions. Check with your tax professional for possible state tax deductions. If you cannot use all of your potential tax deduction in the current year, in most cases you may carry forward your deduction to future years – always be sure to check with your tax professional for all possible current federal and state tax deductions.
- Boat Donations Behind the Scenes by Michael Vatalaro, Boat U.S. Magazine;http://www.boatus.com/magazine/2011/october/donation.asp
- Rules for Charitable Tax Deductions, IRS Bulletin;
- IRS Publication #526, Charitable Contributions; http://www.irs.gov/pub/irs-pdf/p526.pdf
- IRS Publication #544, Bargain Sales, p4, p33, http://www.irs.gov/pub/irs-pdf/p544.pdf
- How New Tax Laws Affect Charitable Deductions of Certain Motor Vehicles, Boats and Airplanes;http://www.irs.gov/pub/irs-drop/n-05-44.pdf
BE SURE TO DISCUSS YOUR DONATION WITH A COMPETENT TAX PROFESSIONAL BEFORE CLAIMING ANY TAX DEDUCTIONS