Due to the way IRS requires a charity to value a donated boat for tax deduction purposes, BaySave can significantly increase the donation value of a boat because we keep the boat here for internal use rather than sell it like most charities do. Under IRS rules, the donor is not required to reduce the tax deduction to the amount realized in the boat’s sale. The end result is that the tax deduction can often be two or three times larger than the result from other larger charities.
If you have a boat, motor or trailer to donate, please let us know. For a detailed explanation of boat tax deduction rules, call Tony Novak CPA at 856-723-0294.