ILLUSTRATION OF FAVORABLE TAX BENEFITS

THESE FIGURES SHOULD NOT BE CONSIDERED PROJECTIONS.  THEY ARE FOR ILLUSTRATIVE PURPOSES ONLY.

Donor’s get a tax deduction of the FMV determined by a qualified appraisal including building and site improvements.  The appraiser is also required to sign Form 8283 per IRS standards.  A summary of two non-cash donations and Donor benefits are illustrated:

Illustrations                        Illustration 1      Illustration 2

Fair Market Value                                    $425,000         $2,300,000
Land FMV (Not Donated)                     $148,750          $805,000
Building and site (net Donation)              $276,250         $1,495,000
Federal Tax rate of 35%                              35%                     35% 
Typical refund for federal tax rate           $96,681           $523,250

Illustration 1: Getting a favorable tax benefit of $276,250 for a donation result in a meaningful tax savings of $96,681. 

Illustration 2: Getting a favorable tax benefit of $1,495,000 for a donation result in a meaningful tax savings of $523,250.

Enviro Green Salvage and its affiliates do not provide tax, legal or accounting advice.  This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice.  You should consult your own tax, legal and accounting advisors.