Charity Land Exchange Seeks Real Estate Donations
YOUNGSTOWN, Ohio -- All donations of real estate to Charity Land Exchange Inc., a nonprofit entity, before Jan. 1 are fully tax deductible for the 2012 tax year, says attorney Joseph Bishara, executive director and founder of the exchange.
When the exchange sells the land, the proceeds go to the charity of the donor’s choice. “Even if the land is sold in 2013 or beyond, the donor still gets credit on his or her 2012 taxes,” Bishara explains.
Craig Steinhoff, a certified public accountant and a director of Charity Land Exchange, notes, “One option is to donate appreciated real estate to a tax-exempt organization, such as Charity Land Exchange. A gift of property greater than $5,000, combined with a qualified appraisal, could generate a substantial tax savings.”
Potential donors should contact Bishara at 330 744 5211 or log onto CharityLandExchange.com for additional information and an application.
Published by The Business Journal, Youngstown, Ohio.
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