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The time now is 01/08/09 - 20:15

Tax and charity donation


RealCool.BIZ Forum Index -> Tax -> Tax Planning / Exemption Investigations

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kaela
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Joined: 08 Jun 2005
Posts: 3



PostPosted: 02/16/08 - 09:32    Post subject: Reply with quote

My good friend has a lot of assets that he will never use, but they have its value, now he was thinking about selling them, but taxes would destroy the price he could get interested people. His last idea is to give it away as charity donation, he believes that there will not be a great loss; he will donate it to organization that helped him recover from his condition. Are there any taxes now?!
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fallon
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Joined: 04 Jul 2007
Posts: 23



PostPosted: 03/16/08 - 23:25    Post subject: Reply with quote

It is one nice decision that he had made… I am glad there are still people who are thinking like that. But, I must say, I believe that, unfortunately, you will have to pay a tax no matter what you do. Only, there are organizations which are tax free in any way, especially for donations, but I’m afraid that they are almost in hundred percent religious communities.
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