Timeshare Donation To Charity - How To Proceed?
Timeshare owners wishing to do a timeshare donation to charity are calling MTS wondering about it. With the economy as it is today, reselling a timeshare if getting next to impossible even with prices close to zero. The answer to people looking to do a timeshare charity donation technically is yes but...
Timeshare charity donation - The Facts
Most people look to donate their timeshares to charity to receive a tax deduction
While this reason is more than valid, you need to understand that in order for you to receive a tax deduction, the charity needs to sell the timeshare for a profit in order to provide you with a tax receipt.
The problem relies in the fact that if you haven´t had success trying to get rid of your timeshare, a timeshare charity donation isn´t likely to happen since the organization most likely won´t be able to sell it either.
Beware of timeshare donation to charity companies
You should avoid timeshare charity donation companies claiming to get you overrated tax deductions for your timeshare. your timeshare donation to charity is fair market value, not a dime more.
If you were not successful reselling your timeshare for a penny, the timeshare charity donation organization won´t be able to sell it for more than an amount next to nothing.
Claiming these values in your taxes might get you audited as the IRS will not buy that a charity was able to sell your timeshare for far more you weren´t able to sell it for.
Most timeshare donation companies MTS analyzed provide their clients with very high "appraisals" in exchange for an upfront fee. It is in their best interest to give you the highest fee you will believe your timeshare is worth, otherwise you would not pay for their service.
Doing a timeshare donation to charity is only a viable option if you are truly charitable and have a timeshare with a real monetary value (Marriot, Hyatt, Disney) to sell. You help the charity by giving them the ability to sell it and keep whatever money they receive. Donating your timeshare simply because of your inability to sell it is a bad idea. Would you donate your car to your kids because you can't sell even if it will cost them more to use it than placing it in the junk yard?
Remember that to cancel a timeshare you don’t have to pay an upfront fee. Mexican Timeshare Solutions works under a contingency basis and only collect fee if the contract is fully cancelled, otherwise, no fee is charged. Contact MTS for a free consultation and s full advice on your timeshare matter. It’s time for you to get away from that contract.
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