Supporting the charitable programs of Collectibles with Causes and Giving Center need not be in the form of a direct financial contribution. If you want to make a charitable gift, consider appreciated property. Whether you donate artwork, comic books, coins, sports memorabilia, antique furniture or a collector car, you will qualify for a tax break while Collectibles with Causes can convey the benefits of your donation to those in need.
While many people think that donating appreciated property is just for wealthy people making large contributions, CPAs typically agree that the concept can work equally well for modest donations. If you would like advice about this charitable giving opportunity, consult with a CPA.
Donating art, antiques and other collectible objects to Collectibles with Causes and the "With Causes" Charitable Network can provide you with possible benefits such as:
You will generally receive a higher income tax deduction if you donate an art object or collectible that has appreciated in value over the time you have owned it. This is called capital gain property. Generally, property is capital gain property if its sale at fair market value on the date of the contribution would have resulted in long-term capital gain. Capital gain property includes capital assets held more than one (1) year. The general rule is that you can usually deduct the full fair market value as of the date of the charitable contribution.