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Timeshare Donation To Charity - How To Proceed?

Timeshare Donation To Charity - How To Proceed?
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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

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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.

Conclusion

timeshare donation to charity conclusion

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.

Information to Share

If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?

  • Share this link http://www.timesharescam.com/blog/101-timeshare-donation-to-charity/ on your favorite blogs and forums

 

Leave your comment below and share your opinion with us. To know more about timeshare scams go to: Are timeshare Scams?

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18 Comments
  • r.brownMarzo 24, 2014, 9:18 am

    Timeshare resale treachery is all over the country. Florida has an ordinance that disallows these companies from taking money up front. The state attorney General of Florida, helped me get my money back. There are some very unscrupulous companies in California that need some kind of restrictive ordinance or law, with some kind of California State Attorney General action and, effective enforcement. I hate to admit I have fallen four times for various companies sales pitch. Each one sounds like the caller just left church and this is the real thing. No way they all lie.
    We need a California or Federal law/action. repayment to be required from those companies to those of us stupid enough in desperate times, to get involved with them.

  • HelenMarzo 18, 2014, 12:11 pm

    i was thinking in donate my timeshare, thanks for the information it was really helpful for me!

  • VeronicaMarzo 14, 2014, 10:15 am

    no me suena a una gran muestra de caridad donar un tiempo compartido, pero si alguien esta interesado en ello, pues adelante

  • AngelineAugust 9, 2013, 2:58 pm

    most people believe that donating to charity is because they can not pay, but doing that is just a waste of money

  • MelvinJuly 20, 2013, 8:43 am

    I do not think that is the option for many people, there are always other options on the issue of what to do with your time share, my option will be to sell it or rent it, but that's my opinion. Anyway, thanks for the info, always good to know.

  • JamesJuly 3, 2013, 9:16 am

    Making a timeshare donation to charity is a bad idea because it’s not always easy to sell on behalf of those receiving the donation, and since this is actually tax deductible, everything has to be done legitimately.

  • GlouApril 8, 2013, 3:31 pm

    Many timeshare donation companies would like you to think that you can deduct more money than you actually can from your income tax return for a timeshare donation. Some timeshare donation outfits claim to help people get tax deductions of over $20,000. That's not credible! The fact is the IRS requires that any deductions over $5,000 require a professional appraisal. The first catch to this is that most appraisals cost at least $500.

  • elizabeth traperoNovember 30, 2012, 11:03 am

    Vivo en Usa y tengo timeshare lo puedo donar en México???

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