Empowering our community today and forever
Create a legacy of lives changed. When you remember YWCA Spokane in your estate plans, you contribute to a culture of empowerment, justice, and dignity for survivors of violence, poverty, and inequity. We can help you meet your personal financial goals while making a long-lasting impact on our community.
Bargain Sale
Do you have property that you would like to sell? Are you looking for a strategy to reduce your income taxes? A bargain sale might be the right strategy for you.
Benefits of a bargain sale
- Avoid capital gains tax on your charitable gift
- Receive a tax deduction that will reduce your tax bill this year
- Take the cash received from the sale and reinvest it to create future income, save for retirement, buy new property or achieve other financial goals
- Help YWCA Spokane further our important charitable work
How a bargain sale works
- You sell YWCA Spokane your property for a price less than fair market value.
- You receive cash from the sale.
- You can take a charitable deduction for the value of your gift which is the the difference between the fair market value of the property less the sale price.
- While you may owe some tax on the sale proceeds you receive from YWCA Spokane, the charitable deduction from your gift could offset some, most or all of your capital gains taxes associated with the sale.
More on bargain sales
A bargain sale may be accomplished even if you have a mortgage on your property. Because relief from indebtedness can have tax implications, please consult with your tax advisor prior to completing a gift of a bargain sale.
Contact us
If you have any questions about a bargain sale, please contact us. We would be happy to assist you and answer any questions you might have.
If you are interested in learning about ways you can support our organization or how to maximize the impact of your giving, we have a number of resources to assist you.