You are here because you are considering working with CHT in our Timeshare Donation Program. Thank you for coming.
Here is the simple compensation statement. You can print this page if you desire to keep as a reference.
"We will pay you or your company (at the option of the CEO) the sum of $100.00 at the time of payment and completion of a transfer of a timeshare deed or title to us from a client referred from you, designated by their input of your code to us. In the event a client gives us more than one input code we will accept only that code which we receive first or which is listed first if more than one is given at the same time by the client."
First, we do want to make sure you are compensated for your work. We need a simple 8 digit code from you made up of any letter or number - all in lower case, no spaces - NO CAPS. So, right now, send us a quick e-mail to give us your designated number. It would help if you gave us your name, address, phone number, who to make check payable to, and any other contact information you could as well.
seniordirector@communityhealthtraining.org
The reality is that you simply make sure the client contacts us with the your code. There can be any number of ways to do this. The following are only suggestions. Feel free to alter them. All we ask is that you allow us to review what you intend to send, print, post or place on your website, in the hands of or in front of who ever you are giving it to (does not cover personalized contact with specific personal dialogue). We only look for concern for legality and to see if there is anything we may be able to suggest that you might find helpful. Any of these can be copied directly from this page and used directly. If you are familiar with source code you can easily view it in most browsers that provide a selection in their menu like VIEW > SOURCE (IE6) or VIEW > PAGE SOURCE (Mozilla Firefox). You can copy and paste from there.
As a suggestion, advertising as done a lot of research and found that it is usually the 3rd to 5th contact that finally gets action. You might want to do a few of these or do them over again a few times to get better results.
#1
- e-mail contact
Given time, some timeshares do not sell or rent as desired or expected.
We know this happens and hope our service to you has been productive.
We do work hard at what we do.
We have coordinated with another company to offer you an option. They buy timeshares. At the same time, if you will use this code ######## you will receive $50 extra to you when your timeshare transfer is completed.
The option is to donate to a nonprofit organization that will give you the best chance at recovery of your timeshare value possible. They do things a little differently and that can make a big difference to your pocketbook.
For more information log onto http://www.communityhealthtraining.org/Timeshares/ .Take the time to read it thoroughly. We believe it can work for you. Don't forget to use the code ######## when you register with them to get your $50.
Sincerely,
#2
- e-mail contact
You timeshare has been listed with us for some time and not been removed
based on sale or rental. We would appreciate an update of your status.
We have coordinated with another company to offer you an option. They buy timeshares. At the same time, if you will use this code ######## you will receive $50 extra to you when your timeshare transfer is completed.
For more information log onto http://www.communityhealthtraining.org/Timeshares/ .Take the time to read it thoroughly. We believe it can work for you. Don't forget to use the code ######## when you contact them to get your $50.
#3
- Website link
Cut and paste this link onto the somewhere between the <body>
</body> markers on the page you want it displayed. It will appear
on the page. You may need to position it based on how your web page
is designed.
<table width="200" border="3"
cellpadding="2" height="130" bordercolor="#0000FF"
bgcolor="#FFFFCC">
<tr>
<td>
<h1 align="center"><font color="#009966"
size="2" face="Arial, Helvetica, sans-serif"><b>
Timeshare Donation <br>
Pays You Money. <br>
Get an extra $50 in cash<br>
when they accept it. Use code<br>
####### upon registration.<br>
</b></font><font face="Arial, Helvetica, sans-serif"><b><font
color="#009966" size="2">
<a href="http://www.communityhealthtraining.org/Timeshares/">Timeshare
Donation</a></font></b></font></h1>
</td>
</tr>
</table>
This is how it looks:
#4 - Information/article page
Simply cut and paste this onto your template and set it into your menu
system.
Article Title How
To Donate Your Timeshare And Put Money In Your Pocket
Article Text
The question is often, can you get a tax write off for donating your
timeshare. The answer is YES!
The first concern is where you live and what taxes you pay. Each country handles donations differently and don't expect anyone here to advise you on your place of residence. Beyond that, there is a LOT MORE to tax credit for donations than most people understand.
First, there are a few things you need to consider.
1. The write off is against
your income like an other deduction, not a tax credit.
2. You have to find a nonprofit organization (NPO) willing to accept
your timeshare.
3. You have to be careful how your timeshare is evaluated.
When you attempt to donate your timeshare you will often find that the NPO puts you together with a broker who actually sells your timeshare for whatever they can get for it. The NPO doesn't take title except at the very last second in a double closing so you are donating it to them while they are selling it to someone else. When that is done, you face a few hurdles. Some timeshares at some resorts NEVER sell and those will be rejected outright by the NPO. Until the broker sells it you continue to be responsible for all fees. When it is sold, a value is established which can't be argued with. "Your" timeshare was only worth what someone actually paid for it, therefore according to the IRS you can only deduct the amount that was actually received. Even if you have an appraisal, it doesn't matter. Even if the NPO takes title and holds on to the timeshare for awhile, if they do sell it, they are required by law to notify you if the sale price is different than the credit they gave you so you can adjust your future income deductions up or (more likely) down to coincide with the real sale price. If you have a $10,000 timeshare you could get only $1,500 in deduction credit. Is a 25% tax bracket that's worth $375 in your pocket.
The NPO we work with does it differently and you may find some others that do this, also. The NPO takes title now and NEVER sells it. As such they are required by the IRS to find the Fair Market Value (FMV) based on one of three methods dictated by the IRS.
1.) What do the majority of similar timeshares sell for in the open market. Think about this for a moment. The majority are sold by the resort, therefore their sale price along with what you willingly paid for it establishes FMV.
2.) What is the rental income determine as an investment if it was bought for that purpose (doesn't apply here).
3.) What would it cost you to replace the timeshare on the open market. Again, think. You would probably have to go to the resort and pay their retail price. Therefore, if your unit is NOT sold, the FMV can be fairly and legally established as the price close to the retail price currently at the resort. That value is then your deduction. The difference can be literally thousands of dollars difference. This would give you $10,000 in deduction credit. In a 25% tax bracket, that's worth over $2,000 more in your pocket!
One difference between the two (there are variations) is that the first may deduct the costs of closing and commissions from your credit but they don't usually charge you anything else. The second may charge you a fee or ask for an additional donation since they are NOT selling the timeshare. Consider what you get back at tax time to see which gives you more money. Both get you out of your further lifelong financial obligations.
Two questions often arise. 1. How can the NPO take over the financial obligations and continue in business? That is a business trade secret, but we can tell you they often work our something with the resort to retire the unit. 2. Isn't there a $5,000 limit on timeshare donations? NO!! this is alluded to in many, many places EXCEPT from anything from the IRS. Their only response is to review two publications - Pub. 561 Fair Market Value Determination and Pub. 526 Contributions. First of all, the $5,000 limit makes no sense. It's like saying your car isn't worth the same as one on the dealers lot because you can find it cheaper on eBay. Baloney, That's what Kelly's Blue Book is for - everyone and it's based on sales completed, not prices offered. Regardless of the difficulty, you have just as much right to sell at the same price as the resort does and unless you prove otherwise by selling it for less, the IRS says to use at least one of the three methods above to compute FMV.
The only limitation to the donation is that if you wish to deduct more than $5,000 you must be able to justify the increased value and the IRS may ask you to furnish a professional appraisal to them. The important key is whether YOUR timeshare was sold by the NPO for less or not. If it was, your donation credit is reduced to their sale price only. Stating that the resort is a primary market and you are a secondary market is NOT justifiable. After all, you have the same right to sell it as the resort. You could even take your week there as a vacation and park your car across the street from the entrance with a "Timeshare For Sale By Owner" sign posted and tell people to get the best deal they can under contract, show it to you and you'll sell yours to them for $100 less. They buy from the resort, show you the completed documents, buy yours for less and terminate the resort contract within the legal period (usually 3 to 10 days depending on the location). This is an valid scenario so long as you didn't give it to a NPO that sold it for less.
We hope this hasn't been too technical or overwhelming for you, but we felt you deserved a technical answer.
(This section would be hidden or included as you desired.)
The author, Dr. Rich, is a retired physician with a past in commercial real estate before he entered medical school. He has taught thousands of patients and doctors specialty care for treatment in the field of physical medicine (therapy). Since retiring he has worked with various organizations as a consultant in health care, real estate investing and practice management. He has owned timeshares, donated, and currently works with a NPO to guide them in their timeshare donation program. You can contact him directly at SeniorDirector@CommunityHealthTraining.org
or you can go directly to the NPO website at http://www.communityhealthtraining.org/Timeshares/ .If you do use their services we have arranged for you to receive a 10% discount on their donation request. Make sure you enter the following code when you register with them.
$50 Discount Code ########
#5
- Direct Mail Card
We attempt to keep in touch with our clients to ask for an update on
their property and to update them on our company. We ask that you contact
us to tell us if there has been any change in your original listing.
We have a new service you may want to take advantage of. You can donate your timeshare and get the IRS to give you up to 25% of your original purchase price back in cash at tax time.
Log onto http://www.communityhealthtraining.org/Timeshares/ for details. To get a special $50 extra dollars back to you make sure you use this code ######## when you register with them.
#6
- Direct Mail Letter
Hi,
We haven't heard from you in some time and want to keep in touch. If there has been any change in your timeshare since you began working with us, please contact us for an update.
We have made a connection with another company that provides what we can't offer. We want to pass that opportunity on to you.
You can donate your timeshare to a nonprofit organization and get a deduction off your income for tax purposes. The amount of that donation depends on several factors. First, does the nonprofit organization sell your timeshare to get cash. If they do, your limited to their sale price. A $10,000 timeshare sold for $1,500 gets you $1,500 in deduction and in a 25% tax bracket you get $375 back from the IRS.
If it isn't sold, you can use the IRS method of determining fair market value and claim up to your original purchase price as a deduction. On that same $10,000 timeshare you would receive over $2,000 from the IRS at tax time. That's a big difference.
We would suggest you take a few minutes and check out the information at the nonprofit organization's website, http://www.communityhealthtraining.org/Timeshares/ to see if this might work for you.
We have arranged for them to make sure you get an additional $50 when your deal is completed. All you have to do is make sure you input this code, ########, when you register with them.
Thank your for your business.
As you can see, there are many ways to do this, and each one is fairly
simple if you access the database you have for your clients. Again,
all we ask is that you give us a chance to review anything different
you would like to do so we can check for legality and offer suggestion.
Thank you for your support.