The tax benefits of donating your Yacht

The tax benefits of donating your Yacht

As the end of the year approaches we see charities preparing to receive their end of the year donations from individuals looking to have some tax benefits by the end of the year. Similarly, if your yacht has been on the market for a long time and you are in a position where you could use tax benefits before years end many owners choose to donate their yacht to a charity. Of course, you may want to consult your tax accountant or CPA before making any serious financial decisions, however if you have decided to donate your yacht Atlantic Yacht & Ship can facilitate it.

At Atlantic Yacht & Ship we have smoothly organized countless donations from tiny boats through multi-million dollar yachts. You can choose a charity of your own or we can recommend organizations that we have worked with before and that are looking specifically for yacht donations. It is wise to have an experienced professional broker representing you throughout the deal as there are many aspects that need to be watched throughout the process. It is important to keep a detailed paper trail and one needs to make sure to have a IRS-valid value of the yacht. The delivery of the yacht needs to be coordinated and the recipient needs to be a verified IRS-approved 501(c)(3) organization. But, in general, yacht donations are a fast and easy way of saying goodbye to your current vessel.

For over 53 years Atlantic Yacht & Ship has been serving the yachting community. Our headquarter sales office is dockside at Harbour Towne Marina in the heart of the yachting capital of the world, Fort Lauderdale, FL. We are official distributors of Sunseeker yachts and our in house waterside service department provides official Sunseeker warranty work along with general yacht services. Whether purchasing or marketing a quality vessel, Atlantic Yacht and Ship, Inc. is your one stop resource for the highest quality service and sales in the yachting industry today.

If you are looking at yachts for sale, or thinking about selling your yacht, it is always wise to have an experienced broker representing your interests throughout the deal. Contact Atlantic Yacht & Ship at 954.921.1500 or click here.