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September 19, 2008, Newsletter Issue #122: Easy and Convenient to Donate a Boat
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Tip of the Week
Believe it or not, charities accept boat donations to support their causes. Some even accept yachts. Most charities do not launch the boats, but sell them and use proceeds from the boat donations to help support their causes.
Boat donations and other types of vehicle donations make sense for charities.
Many work with auction houses to sell the vehicles, and make the process easy and convenient for the donors. In return, boat donors get a tax deduction and dispose of unwanted watercraft without the hassle of putting them up for sale and fielding phone calls.
Major charities in your area likely have vehicle donations programs. Just pick up the phone to find out if these organizations accept boats as well.
Most often the charities have dropoff locations for the boat donations, or they will send a driver to pick up your boat. Some even provide the trailer.
The gross proceeds that the charity collects when the boat is sold is the amount of your tax deduction.
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