Short excerpt from a YouTube video by IRIS (Incite Tax) giving verbal advice on how viewers can support a nonprofit by donating tangible assets (extra vehicles, surplus land, second homes) to generate substantial tax credits; speaker also frames this as useful for small-business owners preparing to withdraw retirement funds and notes donors may keep a portion of the asset’s value.
Any, like, words of encouragement of how people can help support your non profit and then any words of wisdom to small business owners? Yeah, well, the way you can contribute is, you know, you, you got an extra vehicle in the driveway, you know, kids gone off to university and the thing's going to sit there for four years and just rust. Donate it. You know, got surplus land, a second home, four kids all fighting over it. Donate it will get you a very hefty tax credit for when you start cashing in those 401ks and IRAs, and you can even keep a portion of it. So, you know, just about anything you have can be used to create a tax credit for you.
