Boat Donations

Written by Rylee Newton
Bookmark and Share

According to official reports, at least 4,300 charities have boat donation programs in place in America today. People in all tax brackets have benefited from the tax advantages that come with donating a vehicle to a charitable organization. In the year 2000 alone, as many as 700,000 people claimed deductions on their taxes for boat donations.

If you have ever owned a boat, you know how much fun they can be. Over the years, my father has owned several different boats. I have enjoyed water skiing, fishing, and lazy days out on the lake with my family on these boats. A couple of years ago, my father decided to buy a new boat. He also made the decision to donate his old boat to a charitable organization.

Donate Your Boat and Save

People donate their boats to charities for a number of different reasons, but the bottom line is boat donations save you time and money. Rather than paying to repair your boat and advertise it to the public, you can let a charitable donation do the legwork for you. According to the General Accounting Office, boat donations have generated more than $2.5 billion in tax deductions to date.

When donating a boat to a charity, it's important to find one that delivers a majority of the funds to the intended recipients. Without sounding too cynical, you simply shouldn't donate any money or goods without doing a little research. Different states have passed laws which protect consumers from donation fraud, but it's still a good idea to check out the charity to make sure that you know where the money is going.

Bookmark and Share