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Donations
Often an owner
wishes to donate a boat or yacht as
a Noncash Charitable Donation to a charitable
institution and take an IRS 501.(c)(3)
tax deduction commensurate with his
income bracket. The IRS requires
a donation marine survey or a certified
appraisal report of the boat or yachts
value. The statecertified appraisal
certification is honored in almost every
state. Chose your surveyor very carefully,
as the field of marine surveying is
not a regulated field and there is no
licensing. However, a certified
appraiser under the Uniform Standards
of Professional Appraisal Practice (U.S.P.A.P)
and the departure provision may certify
property within his area of expertise.
Our appraised yacht
donation reports are very comprehensive
and our fees are commensurate with the
time spent on the inspections and obtaining
numerous comparables on the existing
marketplace.Auditors are most interested
in proof of value.
If a donation
boat, yacht, or equipment exceeds $5,000
or more, the charity may not transfer
ownership for a period of 2 years after
the donation. Only if the charity
can show an extreme hardship and is
in need of immediate funds, can title
be transferred in less than the 2 year
requirement. The appraisal report
must be submitted to the IRS within
60 days of the appraisal date.
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MEMBER:
Classic
Yacht Association
C-Port
Boats
US Referral
California
EPA
Department
Health Services
Occupational
Safety Health Administration
American
Society of Non-Destructive Testing
American
Arbitration Association
Office
of California Real Estate Appraisers
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Beach, Hollywood, Huntington Beach, Huntington Park,
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Angeles, Palos Verdes Estates, Paramount, Pasadena,
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Ana, San Pedro, Santa Monica, Silverlake, Signal
Hill, Sherman Oaks, South Gate, South Pasadena,
Studio City, Tarzana, Torrance, Universal City, Van Nuys, Venice,
Vernon, View Park, West Los Angeles, Westchester,
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Windsor Hill
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