[pianotech] (no subject)

[Israel Stein]

>
> Sun, 7 Dec 2008 15:28:38 -0800 "Kendall Ross Bean" 
> <kenbean at pacbell.net> wrote:
> David,
>
> They can sell personal property to a non-profit organization and take the
> difference between the cash they received and the Fair Market Value of the
> personal property as a tax write-off, if the non-profit gives them a
> donation receipt for that difference in value.  
Good luck finding a non-profit that's willing to pop $15,000 for a piano 
in this time of shrinking contributions, melting endowments and arts 
funding getting cut to the bone... They may as well give it away and 
take the full value as a deduction. Heck, I had a client in Berkeley who 
was giving away a perfectly usable small grand - and couldn't find a 
non-profit willing to pay for the mover...

Israel Stein

> -----Original Message-----
> From: David Ilvedson [mailto:ilvey at sbcglobal.net] 
> Sent: Saturday, December 06, 2008 6:59 PM
> To: pianotech at ptg.org
> Subject: Re: [pianotech] (no subject)
>
> These are good people and I don't think fraud is their angle.   They gave
> some examples of appraised value and what they could do tax wise...my post
> was about the tax angle.  I didn't think someone selling personal property
> could take a loss in value as a tax write-off.   I still don't think so...
>
> David Ilvedson, RPT
> Pacifica, CA  94044
>
> ----- Original message ----------------------------------------
> From: "Kendall Ross Bean" <kenbean at pacbell.net>
> To: <pianotech at ptg.org>
> Received: 12/6/2008 12:59:52 PM
> Subject: Re: [pianotech] (no subject)
>
>
>
>   
>>> I have a customer who emailed me the following:
>>>
>>> "Thanks for your reply. Because of how taxes work, if we could get a 
>>> written appraisal on the piano of $20,000.00-$25,000.00 we could sell 
>>> the piano for less and then "write off" the remainder. For example, 
>>> if the appraisal was $20,000.00 we would sell the piano for about 
>>> $15,000.00 and if the appraisal was higher we would sell it for even
>>>       
> less.
>   
>> "
>>     
>>> Does that sound right?   I don't see how they can write off a personal 
>>> sale...????
>>>  
>>>
>>> David Ilvedson, RPT
>>>