Better the Lives of Those In Maine with a Farmland Donation!
Maine is full of great charities that do a lot of good for our state, and charities cannot survive without receiving donations that can finance their activities. A Maine property donation can improve the community by transferring a vacant property to an organization that can utilize it for good. Charities may re-sell donated farmland or lease it to make money, or they can operate out of the newly acquired property and provide additional services.
When donating real estate, the present owner sign over the deed or title to the farmland to the charity, which then assumes ownership responsibilities. This is a wonderful way to dispose of a property that isn’t sellable in the current marketplace. The charitable organization may access the cash value of the property itself or transfer it to another group in need, improving quality of life for the people of Maine.
You Can Deduct Your Charity Donation from Your Taxes!
When considering a farmland donation, one of the most important features is the ability to deduct the value of the property from your taxable income. Property can be valued higher than the purchase price if you’ve made improvements or the farmland has appreciated, or in cases where the property has lost value, the full purchase cost can be written off.
A qualified tax professional can answer more in-depth questions about how this impacts your tax situation and can tell you how Maine farmland donation benefits you the most. RealEstateDonation.org has several agents who can speak with you by phone about property donations right now!!! Call us at 1.888.888.7187 for additional information!
Why Should You Donate Farmland or Property in Maine?
-Don’t depend on an unreliable real estate market to get your money back, but instead consider a great Maine farmland donation to charity! A charitable donation in Maine can provide a great deduction and can provide huge tax benefits!
Many properties acquired several years ago are selling for much less than their original purchase price, so why continue to pay huge fees to sell them? Paying realtor fees and insurance on this unused farmland offers little benefit to you. A charitable donation can dramatically decrease the amount of taxable income that is considered when determining your tax burden and increase your chances of avoiding high tax rates for the state of Maine.
Donating your Maine properties provides a great benefit to the charity that receives it, but also benefits the donor greatly; thus helping out many Maine charitable organizations. Without donations, most charities would not be able to operate, and real estate can be especially valuable to a nonprofit charity group.
Donation is about more than food drives and spare change; it helps the disadvantaged and can really pay off at tax time! Call RealEstateDonation.org now to see if donation is a good fit for you!