The residents of Florida are served by countless charity groups that improve the quality of life in our state. In Florida, charities fill a crucial role in providing aid to the needy. A farmland donation to a charity can go a long way towards furthering the charity’s goals and bettering the lives of others in the Florida state. A Florida farm land donation can provide material support to a favorite charitable organization.
The receiving charity may develop the farmland for their use, or sell the property to the highest bidder and use the money to increase services. Farmland donation only requires that the owner of the real estate sign over the deed to the charity they’ve chosen. This helps busy people transfer farmland that isn’t selling well, and help their community at the same time.
The charity may utilize the farmland to expand their activities, or they can sell the property to finance their existing missions. Charities may also donate farmland they receive to other organizations that need a place to operate. Florida has many worthwhile charities that can benefit in myriad ways from a property donation.
You Can Deduct Your Charity Donation from Your Taxes!
In a property donation, the donor can usually deduct the full value of what the property is worth on the market from their taxable income. Even if the original purchase price of the farmland was $75,000 and the developed estate is now valued at $150,000, the higher value may be counted as a deduction. An accountant can evaluate the impact this may have on reducing liability.
Why Should You Donate Farmland or Property in Florida?
Reduce the burden of farmland that isn’t selling in its current condition, and get big tax benefits!
In many areas, the real estate market has not yet fully recovered. A donation eliminates realty fees and provides another option for those who are looking to dispose of farmland that is no longer useful to them. Property donation is an excellent alternative that helps to benefit your friends and neighbors while providing a great tax deduction!
Real estate donations help a good cause and reduce taxable assets. Charitable organizations benefit greatly from farmland donations that enable them to expand and provide better service to the state of Florida.
There are great rewards for those who consider donating their property to RealEstateDonation.org! Contact us today to speak with an expert on property donations! We have operators available to discuss your options right now. Call 1.888-228-7320 now, we're waiting to speak to you!