[Shotimes] who can help me?

[Peter Chase]

I don't mean to sound like the nerdy accountant I am, but if you receive any property as a "gift" for giving a donation, you have to subtract the value of the property from your donation to get at your charitable deduction.  Even then, if you don't itemize your deductions, you receive no financial benefit for making a deduction.  On the flip side, if you do itemize, and you only subtract the blue book value (which is probably much lower than what an enthusiast would pay for one) from what you pay for the car, it could work out to be in your favor.
Pete

John Paner <jpaner@wnyherp.org> wrote:
I should also add that I run a not for profit charity and I would be 
willing to accept a donation for the purchase of the 93 SHO for 
$2500. This could be used on your 05 taxes. Same goes for the Dodge 
ram I am selling.

John
_______________________________________________
Shotimes mailing list
Shotimes@autox.team.net
http://www.team.net/mailman/listinfo/shotimes

		
---------------------------------
Do you Yahoo!?
 Yahoo! Mail - Easier than ever with enhanced search. Learn more.