Donate Your Timeshare and Avoid Timeshare Fraud

Why donate your timeshare? It may be the best way to avoid timeshare fraud. Timeshare fraud is becoming as popular in Florida as palm trees. Since 2009, over 19,000 formal complaints have been made to the Attorney General's office in regard to timeshare complaints. As timeshare fraud continues to destroy the timeshare market in Florida and other states, legislators are starting to fight back. Recently, Florida Attorney General Pam Bondi and two Republican lawmakers teamed up to sponsor the Timeshare Resale Accountability Act. The bill is a response to the latest actions of timeshares telemarketers.

In early October, Federal prosecutors charged thirteen Florida telemarketing companies for unscrupulous business practices. They were essentially running a timeshare fraud scheme. They would call potential sellers with news that they had a potential buyer for their timeshare. Once the seller would agree to pay a finder's fee of two thousand dollars, the sale would magically not go through. Of course, the telemarketer running the scheme would not be able to refund the money, and the seller would be out two thousand dollars. 

If the bill is signed into law, timeshare telemarketers would not be allowed to lie about having a potential buyer and they would need to draft a written agreement before payment. The seller would have the option of canceling the payment within seven days of the transaction. This is just another case of how companies are trying to take advantage of timeshare owners looking for timeshare relief. If you want to avoid the hassle and fear of being hoodwinked, donate your timeshare instead. You will never be asked to pay a fee upfront and will only be charged a transfer fee once the donation is complete.

How You Can Earn a Lower Tax Bill through a Timeshare Donation

Donate Timeshares is a company devoted to helping those in need of timeshare relief find it through a timeshare donation. A timeshare donation is what you probably think it is. It is giving a timeshare to a charitable organization, so that they can sell it and use the proceeds to help their organization operate. Many charities are understaffed and need more contributions in order to stay afloat and help their cause. 

In return for your timeshare donation, you receive a lower tax bill. You will earn a fair market value of your timeshare and can deduct that on your taxes. You will be free of your contract forever and help a charity at the same time. Donate Timeshares works with The Wyatt Foundation, a charitable organization devoted to helping disabled adults and children through animal assistance. It is recognized by the IRS as a charitable organization that qualifies under section 170© of the Internal Revenue code.

Here is a list of qualified organizations:

·         United States state or territory/United States or District of Columbia

·         A community chest, corporation, trust, fund, or foundation created and organized in the US that is organized and operated exclusively for charitable, religious, educational, scientific, or literary purposes, or for the prevention of cruelty to children or animals

·         A church, synagogue , or religious institution

·         A war veterans' organization

·         A nonprofit volunteer fire company

·         A civil defense organization created under federal, state, or local law

·         A domestic fraternal society if the contribution is used for charitable purposes

·         A nonprofit cemetery company 

If you are unsure, it's best to ask the organization whether they qualify. Otherwise, you may not be able to deduct your contribution on your tax bill. If you want to donate your timeshare for a good cause like The Wyatt Foundation and receive a lower tax bill, contact a donation specialist today.

Donate Your Timeshare and Help Those in Need

Christmas time is coming up in a few months. How would you like to give a child in need the chance to get better? If you have a timeshare and find that you're not using it as much as you should, or you're tired of paying the never-ending fees and costs that it takes to own a timeshare, you can do just this.

The Wyatt Foundation is currently working with Donate Timeshares to help those in need of timeshare relief get rid of their timeshares. Those who are eligible can donate their timeshares to The Wyatt Foundation with the help of donation specialists from Donate Timeshares. 

Why should you donate your timeshare? Renting or selling your timeshare has never been tougher. There is not a demand for either and those who do want to rent or buy have many to choose from. If your timeshare isn't the perfect one with the best location and time of year, you probably should consider donating.

When you donate your timeshare, you get to find timeshare relief and enjoy a nice refund by lowering your tax bill. You will be able to make a deduction equal to the market value of the timeshare. Then all you have to worry about is what you're going to do with the extra money.

In that same regard, you will be helping a child or adult in need. The Wyatt Foundation works with psychologists and other specialists to help children and adults through animal assistance. Animal assisted therapies have been proven to help people with a host of illnesses and disorders. As a part of the foundation, Spirit Ranch is a real life ranch where disabled adults and children can go to and find treatment. 

The Wyatt Foundation benefits directly from your timeshare donation, so please contact a donation specialist today if you want to find timeshare relief and help a child at the same time.

Heal Your Financial Woes with a Timeshare Donation

We may be getting older but our salaries are not growing with us. In fact, they are shrinking. According to a report by the Census Bureau, in 2010, the average salary for an American household was just a hair under $50,000 at $49,455. This may seem like a good amount of money but when you adjust that number for inflation, the income is about the same as it was in 1996. In another report, Yahoo announced that the average income for recent college grads is about ten percent less than recent college grads in 2000. 

These reports are indicative of the fact that we simply aren't making as much money as we once did. However, if you have a timeshare, you know that this doesn't matter. For a timeshare contract, the amount you pay for maintenance fees is not dependent on your income. No matter what happens in your personal life whether it is a new financial situation, health problems, or children going to college, you will have to pay and there's little that you can do about it. Getting out of a timeshare contract is nearly impossible.

In that same regard, if you try to sell your timeshare, you can expect to encounter quite a bit of resistance. This is because it's very hard to sell your timeshare in a market that's filled with sellers. If you have a thousand sellers and only fifty buyers, those buyers are going to have their pick for the best products at the lowest price. You may not even be able to give your timeshare away. How many other people are in the same financial boat as you? They may not want to take on the contract either.

There is a way to get out of the financial burden of a timeshare though. It's through a timeshare donation. When you donate your timeshare, you find immediate relief. You are no longer under contract and you get a lower tax bill for your troubles. It's tough out there. Lighten the load with Donate Timeshares.

Donate Your Timeshare and Make Tax Day a Holiday

April 15^th is not usually a welcome day for most Americans. Also known as tax day, April 15^th is the day where all eligible tax payers must file their income taxes. Sometimes it feels like you need to be a full time CPA to understand some of the tax code, deductions, and forms. It can be quite a stressful time. Because of this, many gyms, restaurants, massage therapists, and coffee shops offer deals to help last minute filers keep their cool.

For those who own a timeshare, it could be even more worrisome because some of the rules and regulations concerning timeshares are so confusing. You are only allowed to deduct part of your maintenance fees when filing your taxes. You can deduct those parts that include property taxes and insurances. However, you cannot deduct fees associated with staff or upkeep. You will have to itemize each deduction to show how you are making your deductions.

Renting makes things even more confusing. If you rent your timeshare out for half the time of your ownership, you can only deduct half the expenses but you must include all of the rent as personal income.  Therefore, you're not really taking in as much as you think at all.

If you want to have a happy tax day, there is another approach than trying to rent out your timeshare. You can donate your timeshare instead. When you donate your timeshare, there is no need to worry about what you can deduct and what you can't. You deducting the market value of the timeshare once and then you're done. There are no longer any annual maintenance fees to worry about. The only thing you'll have to worry about instead is what you're going to do with that big return.