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Why Choose South Florida Yacht Donation?
- Speed: The donation process can take less than 30 days.
- Transparency: We work only with long-standing, reputable 501(c)(3) charities that ensure your donation supports meaningful marine conservation and education initiatives.
- Experience: Our team has years of experience in the yacht industry, guaranteeing you’re working with true professionals.
- Maximized Benefit: We know how to properly document and appraise yachts to ensure you receive the highest tax write-off possible.
Services
How to Donate Your Yacht – Simple and Hassle-Free!
Initial Consultation
Contact us to discuss your yacht donation. We work with yacht owners, brokers, and financial advisors to ensure you’re fully informed.
Appraisal
We partner with experienced appraisers who specialize in yacht donations. They are able to use replacement value rather than market value, maximizing your tax benefit.
Non-Binding Letter of Intent (LOI)
A non-binding LOI is drafted, outlining the terms of the donation, so you’re clear on every detail.
Survey and Haul-Out
The yacht is hauled out and surveyed to validate the appraisal value. Any documented upgrades you have can also be included, potentially increasing the appraisal.
Paperwork and Donation Finalization
We work with registered 501(c)(3) non-profits to handle all the necessary paperwork. The process typically takes less than 30 days from start to finish.
Tax Deduction
Yacht donations often allow for a tax deduction based on the replacement value of the yacht, which is generally much higher than the market value. You can typically deduct up to 50% of your Adjusted Gross Income (AGI) in the year of the donation. If your deduction exceeds this amount, the excess can be carried forward for up to five years, giving you ample time to fully benefit from the write-off.
Advantages of Using
Our Experienced Staff
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Expert Appraisal and Documentation
We use appraisers and surveyors who have worked closely with the IRS to develop proven methods for yacht appraisals. They back up every valuation with thorough, legitimate documentation.
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IRS Recognition
Our staff is highly experienced with IRS regulations for yacht donations, ensuring a smooth process and no issues with tax deductions. We’ve never had a client face IRS problems due to their donation.
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Streamlined and Fast Process
From appraisal to donation, our streamlined process takes less than 30 days, quickly relieving you of carrying costs, maintenance, and crew expenses.
Advantages of Using
Our Experienced Staff
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Significant Tax Benefit
Donors receive a greater net benefit through the tax
deduction than they would from a direct sale, especially in a buyer’s market. -
Trusted Non-Profits
We only work with long-standing, registered 501(c)(3) non-profits with proven missions focused on ocean conservation and education. Your donation directly
supports these important causes. -
Flexible and Accommodating
We are always available to discuss the process with your tax advisor, financial advisor, or anyone else via Zoom, phone call, or in-person to ensure you’re comfortable and confident throughout.
Title Transfer &
Charity
Support
The non-profit takes the vessel as-is, where-is, holding the title for the IRS-required 3 years. During this time, they invest around 10% of the donation’s appraisal into material improvements.
And that’s it – you’ve successfully donated your yacht! We make it easy and stress-free!
