For those planning to donate boat to charity In Wisconsin, this information is important

For those who want to donate boat to charity in Wisconsin, this article may provide some help. Actually, you will be happy to know that the process of donating a boat is actually very easy. This makes sense, because it would be in the charity's best interests to not put any hurdle in your way since they really need the kindness of donors like you. After all, they are dependent on other people's donations to be able to run their services.

Step 1 - Tell the Charity You Want to Donate Boat

The first thing you have to do is inform the charity of the fact that you want to make a donation. Most charities now have online contact forms available to make this easy. Alternatively, you can telephone them, email them, fax them, or even pop into their store or headquarters in order to find out more about boat donation charities near you.

Step 2 - Wait for the Charity to Get in Touch

Your details will be passed on to the workers in the charity who arrange the collection of donations. They will then get back to you, usually within no more than two business days, and let you know exactly what they need from you, such as the HIN (Hull Identification Number) and State Boat Registration Certificate. At this point, you also have the opportunity to ask any questions that you may have in relation to the donation process. Finally, they will arrange with you a date and time that is convenient for you to pick up your boat.

Step 3 - Wait for the Charity to Send you a Tax Receipt

Once the charity has picked up the boat donation, they will sell it at auction to raise funds. A tax receipt will then be provided to you that denotes the value it was sold for. This should happen within 30 days of your donation. If the charity you donate boat to is 501(c)3 registered, you will be able to deduct this value from your taxable income and reduce your tax at the end of the year. The IRS Publication 4303 explains exactly what forms you need to fill in for this deduction and the charity will likely to be able to advise you on it as well. Do be aware that the charity is not permitted to give you any legal advice, so if you have legal questions when it comes to the idea of choosing to donate boat, you'll need to look elsewhere.