

| Subject: | Oh no I think this is the end .... |
| From: | McComas_Glenn |
| Date: | Fri, 24 Mar 2000 18:44:44 -0500 |
Don't shoot yourself, Justin -- Take a look at the tax regulations for gifts-in-kind to charitable organizations. In the US [where I live] you can give a vehicle to a charity and our Infernal Revenue will allow you to take a tax deduction for its fair market value. When you figure state as well as federal tax savings, it amounts up...... and beats the hell out of parting-out something sitting in your driveway to irritate wife, neighbours, et alii for months. If I were in your shoes, I would add up my 'investment' in the vehicle to arrive at its fair market value, and use this to defend an audit if that came to pass. If you are having a pretty good year, incomewise, the tax savings can be considerable. Of course your picture may differ. Where are you located? Have you got access to a good accountant? Hope this helps Glenn McComas Queenstown, Maryland, USA
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