Commercial Property From Red To Black Again
In my current career as a State Certified Real Estate Appraiser I have valued property for FHA, HUD, investors, bankers, families, owners, sellers, buyer and charities. Public Charities as described in section 501(c)(3) of the Internal Revenue Code need funds to operate their charitable, educational, or other tax-exempt programs. These charities may choose from a number of fundraising activities for financial support. A popular fundraising program is the sale of donated property. Charities may also use donated property in their tax-exempt programs.
If you are holding an un-performing or underperforming commercial property, you probably know the many ways that property is hurting your financial bottom line. The property holding alone could be the one reason that your company or business is not turning a profit. You may be thinking, as many commercial property holders are, that if you could just unload that burdensome property, you could get your business back in the black.
Fortunately, changes to charitable donation laws make it possible to donate commercial property, unload property burdens, and still benefit financially in the end. Not only will the cost of owning and maintaining a commercial property disappear when you donate commercial property, but significant tax advantages can be enjoyed as well.
Current Market Value Tax Deduction.
The donation of commercial property qualifies you or your business for a tax benefit based on the current fair market value of the property – not on the purchase price of the property. Deductions vary according to the structure of your organization (it is also recommended that you discuss this with your own tax advisor).
Enjoy These Benefits when you Donate commercial property to Care Advocates Inc.:
-Sizable, lasting tax benefit / deductions for years to come
-Freedom from property taxes
-Freedom from property maintenance and other obligations
-Freedom from liability and insurances
-Benefit of knowing that you/your business has helped others
-Positive face forward to the public for your generous company
-Peace of mind knowing that your commercial property is no longer a drain or burden
TO GET THE PROCESS STARTED AND DONATE COMMERCIAL PROPERTY – CALL 909-510-3353 – Lionel A Newman Thomas – State Certified Real Estate Appraiser