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 When Do you think My order will arrive from Fedex? |
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 Time to buy BP stocks? |
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Additional Details
RE @ Common Dense (Spelt wrong on purpose)<... |
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Additional Details
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Fareeda | Is it legal for a Non-Profit Corporation to receive real estate donations and use it? |
Is it legal if I receive Timeshare donations through my Non-Profit Corporation and I use it for my vacation instead of selling it. People have offered to donate timeshares to my Non-Profit Corporation for charity tax deductions, but I can't sell them for cash and will be left with a timeshare and a maintenance fee unless I use it for my self? |
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Bagy
|
Dear see this site http://www.OnlineBusinessMall.com
I believe it will be helpful in resolving your problem keep using answers.yahoo.com |
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NoraCat
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I'm pretty sure it's illegal to use the time share in the way you propose - not because of any experience I have, but just because it sounds really fishy.
But if you can't sell the time share, couldn't you rent it instead and use the proceeds from the rent to pay the maintenance, and then use the rest of the income (if any) to fund the activities of your non-profit? |
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RetiredDebtFree
 |
You can use the timeshare for your personal use if it is an asset of the corporation ONLY if you count it as income to you. But good luck getting that past your auditor!
It is unwise, to say the least, to take a timeshare as a contribution then be saddled with fees. The donor knows it has little value, but wants the deduction based on their cost. They aren't doing you any favors.
On the other hand, donating time-share weeks (usage, not ownership) which can be sold, auctioned, etc. is reasonable and not uncommon. There is no benefit to the non-profit to accept a timeshare. Decline it before you find yourself violating non-profit tax code by accepting it and using it yourself. |
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Ryan M
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You need to ask your CPA or EA this questions. Using a donation for "vacation" is generally a HUGE indication of fraud. Unless you want to be charged with fraud, DO NOT use timeshares for personal vacations. You have NO IDEA how big of a red flag that is for both external auditors and IRS auditors. |
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ernesthinton
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I worked for Windham Vacations.. Timeshares are a joke.
It is sort of like "Budweiser" making a donation to "Mother's against drunk drivers".
If you have not already, please don't accept the donation. What they are trying to do is push the maintenance fees off on you.
I am a con-artist and it is hard to fool ole Ernest. LOL!!! |
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