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Donate unwanted timeshares to get tax write off |
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Written by TSD Staff
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There is no question that getting rid of unwanted timeshare property can prove to be a big problem especially with the economy being challenged by rising oil prices and commodities being sold at higher prices. It doesn’t help that people are going on less and less vacations and holidays per year, while annual maintenance fees continue despite owners not using their properties.
Shari Cahill shares that she eventually got fed up with ever-increasing maintenance fees plus the lack of a points system where they could trade their timeshare weeks for other holiday locations around the globe. Cahill explains that they “never used it and we continued to pay for it and it just wasn’t fun anymore.”
Fortunately, she came across donateforacause.com over the Internet. The website’s administrator, James Tarpey, explains that they’ve “helped 5,000 people get out of their timeshare this way.. we found a way to help somebody get rid of their timeshare without getting ripped off.” You simply pay for your property to be appraised and then the site does the rest of the hard work. Tarpey adds that they “get about 100 people a day who come to us and are interested in donating.” Working with organizations such as The American Cancer Society, owners who donate their properties sometimes get a huge write off in their taxes.
Source: MyFoxPhoenix
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