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Navigate tricky tax waters for boat, car sales to charity

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in Small Business Tax,Small Business Tax Deduction Strategies

Are you thinking of donating a boat or a car to charity? Maybe you can’t afford to simply give it away. Strategy: Arrange a “bargain sale.” Unlike a regular charitable donation, you get cash back from the charity plus a write-off based on the difference between the bargain sale price and the property’s fair market value.

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