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Go Back   SailNet Community > General Interest > General Discussion (sailing related) > virgin
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Thread: virgin Reply to Thread
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Topic Review (Newest First)
03-13-2013 11:32 PM
GMFL
Re: virgin

Quote:
Originally Posted by hellosailor View Post
"(after two years for some tax reason I guess) "
Ah, yes, if that's news to you, then you haven't really looked at vehicle donations in any detail. The IRS code values the donated vehicle at whatever someone actually pays for it, so if you donate a boat with a BUC value of $100,000 but someone only pays $10k for it? Your deduction is $10k.
Unless the charity puts the vehicle into use for their own purposes, for a minimum of two years. In that case, they're allowed to value it at fair market value, instead of whatever it gets sold for.
Speaking strictly from an East Coast point of view, the boats that get donated to charities here usually are boats that couldn't be sold. If you want to help the charity, you sell the boat for top dollar and give them money. If you can't sell the boat for what you want...eventually they get donated and left as someone else's problem.
"Here's my Mercedes it just came off lease" is a very very rare donation. Among other things, because the donor has to wait and then gamble on what the item will be sold for. That's been IRS policy for maybe a decade now.

Great reply! You schooled me about IRS rules and ignored every link I posted regarding donated boats. But! You added some irrelivent info about boats that are donated to rid the owner of the burden

As I'm sure you know. There are other reasons people donate boats other than to "gamble on what the item will be sold for".

Sad people think the way you do.
03-13-2013 11:05 PM
hellosailor
Re: virgin

"(after two years for some tax reason I guess) "
Ah, yes, if that's news to you, then you haven't really looked at vehicle donations in any detail. The IRS code values the donated vehicle at whatever someone actually pays for it, so if you donate a boat with a BUC value of $100,000 but someone only pays $10k for it? Your deduction is $10k.
Unless the charity puts the vehicle into use for their own purposes, for a minimum of two years. In that case, they're allowed to value it at fair market value, instead of whatever it gets sold for.
Speaking strictly from an East Coast point of view, the boats that get donated to charities here usually are boats that couldn't be sold. If you want to help the charity, you sell the boat for top dollar and give them money. If you can't sell the boat for what you want...eventually they get donated and left as someone else's problem.
"Here's my Mercedes it just came off lease" is a very very rare donation. Among other things, because the donor has to wait and then gamble on what the item will be sold for. That's been IRS policy for maybe a decade now.
03-13-2013 10:15 PM
GMFL
Re: virgin

Quote:
Originally Posted by miatapaul View Post
Given a water line of 20.5 feet and using 1.34 X square root of 20.5 gives a potential hull speed of 6.06 knots, that is equal to 6.97 MPH so it would take 14.33 and that assumes no wave action, and a straight line and no currents. Chances of being able to do full hull speed is unlikely. Sitting there with the motor going full bore for 20 hours does not seem like much of an adrenaline rush to me, more annoying.

I have looked at several charity boats (at least 8), and most are not in good enough shape to take a 300 mile coastal cruse without at least a few repairs. Normally if it is going to a charity auction it is because it either needs some repairs, or they cannot sell it in the current shape.
OK Paul, (a Miata? Really? Ok, I digress..)

So I'm right with my math...

No one said he was buying a "charity" boat. He said he was buying a boat donated to a charity. Believe me, many people donate perfectly good, sound boats to charities for auction to, you know, support the charity?? But, I guess, you've researched them all and know they are all POS's right?

The link I posted above with boats for sale have all been donated. Dr. Laura donates about one a year to support the OCC Sailing Center which is then sold off (after two years for some tax reason I guess) as a donated boat to help support a sailing center. I guarantee you, her's , nor any of the others are in poor shape.

Maybe, you're looking into the wrong charities? Like the ones advertised on the radio, "Donate your boat to Cars R Us and get a great tax deduction" IDK.


At this point. Really. Who cares?
03-13-2013 06:46 PM
miatapaul
Re: virgin

Quote:
Originally Posted by GMFL View Post
He said 10-12 BTW.

Here, a math test for you. How off was he? What would be a more realistic number? 14hours? 16 hours? Would you (and others who have posted the same Q) have been happy with that number? What are the tides doing? What is the wind direction? See where I'm going? Many variables, it was a throw away comment he made I'm guessing, he never clarified it.

Call it exaggeration maybe? IDK, this is a petty argument for his overall situation though.
Given a water line of 20.5 feet and using 1.34 X square root of 20.5 gives a potential hull speed of 6.06 knots, that is equal to 6.97 MPH so it would take 14.33 and that assumes no wave action, and a straight line and no currents. Chances of being able to do full hull speed is unlikely. Sitting there with the motor going full bore for 20 hours does not seem like much of an adrenaline rush to me, more annoying.

I have looked at several charity boats (at least 8), and most are not in good enough shape to take a 300 mile coastal cruse without at least a few repairs. Normally if it is going to a charity auction it is because it either needs some repairs, or they cannot sell it in the current shape.
03-13-2013 02:55 AM
GMFL
Re: virgin

Quote:
Originally Posted by chef2sail View Post

Why are you so defensive to posters who may disagree with your point of view and taking it personally? Scissorboy may have in actuallity been a troll.
Shoot, just lost my response somehow, don't have time to re-type it.

I'm not defensive to posters who disagree with me at all. Matter of fact, I enjoy the debate, I'm wrong sometimes. (not often though )

A guy posted and said give me help on this issue, i'd appreciate it. He didn't get that; He got, DONT do it, you'll die. (paraphrased of course) I disagree with that response. Plain and simple .

Maybe he was a troll, I don't know.

I've attempted to bow out of this before and didn't' have much success, I'll try harder this time.
03-13-2013 02:39 AM
chef2sail
Re: virgin

Quote:
Originally Posted by GMFL View Post
He said 10-12 BTW.

Here, a math test for you. How off was he? What would be a more realistic number? 14hours? 16 hours? Would you (and others who have posted the same Q) have been happy with that number? What are the tides doing? What is the wind direction? See where I'm going? Many variables, it was a throw away comment he made I'm guessing, he never clarified it.

Call it exaggeration maybe? IDK, this is a petty argument for his overall situation though.
Ventura/ Oxnard is about 100 NM north of you right? Surely youve sailed there or motored on calm seas as you said. How many hours did it take you?

Where could he pull in along the way for rest or to get out of a large swell?

Weather right now calls for variable very light winds the next few days with small 3-5 swell at 13 secs, but dense coastal fog/ with visability less than 1 mi
03-13-2013 02:33 AM
chef2sail
Re: virgin

Quote:
Originally Posted by GMFL View Post
GREAT post, totally relevant and on point!

NOT!



OR, respond with another 80 word diatribe about the dangers of a coastal sail without a few ocean passages under your belt. Your call.
About as relevant as your Joshua Slocum comment.

Been there my friend...done that. As far a relevancy, I have been across the Atlantic twice, have crewed numerous deliveries along the US Eastern coast sailed and chartered in the Caribbean and to Catalina Island, participated in the Carribean 1500 a couple of times. Working slowly on my OUPV-six pack.

I addition my wife and I usually put about 3000 NM on our small 35 foot C&C MKIII including a coastal trip in the Atlantic from New Jersey up to Massachuettes every summer

I feel as qualfied as anyone to comment about some of the dangers of coastal cruising, but am smart enough to know I lack the experience of professional sailors, delivery captains, or even full time cruisers.

I am not afraid of the oceans, just respectful. Safety always comes first.

Why are you so defensive to posters who may disagree with your point of view and taking it personally? Scissorboy may have in actuallity been a troll.
03-13-2013 02:18 AM
GMFL
Re: virgin

Quote:
Originally Posted by chef2sail View Post
My Daughter called me

She said while traveling a round Alaska she found this 30 year old 16 dog team dog sled
She decided to buy it and bought some books about dog sledding
She had a little experience as she lived in Alaska and her friends and she rode dog sleds
pulled by 6 dogs
She also used to have a job working as a driver of a sled coach pulled by horses over
snow in Vt in the winter
She said the dogs were being given by her friends and then
She let me know that she was setting out on a 100 mile/ 25 hour journey in 2 weeks
during winter on the trail the Idditerod Race is held with no intermedite stops
She told me she got on the internet and asked a bunch of mushers about doing it and
they told her what was she waiting for..you only live once

What did I do? I congradulated her on her purchase. I praised her on her sense of adventure and adreneline. I encouraged her to take the huge risk because Almondsen and Scott had done something similar once. I told her not to worry about the weather ,dogs, sled condition any other emergencies or her lack of experience because if she got in trouble her PLB/ EPIRB would allow the CG or the State Troppers to rescue
her. I sent her on her way............

NOT

GREAT post, totally relevant and on point!

NOT!

Get over your, I don't know, irrelevancy?

OR, respond with another 80 word diatribe about the dangers of a coastal sail without a few ocean passages under your belt. Your call.
03-13-2013 02:04 AM
chef2sail
Re: virgin

My Daughter called me

She said while traveling a round Alaska she found this 30 year old 16 dog team dog sled
She decided to buy it and bought some books about dog sledding
She had a little experience as she lived in Alaska and her friends and she rode dog sleds
pulled by 6 dogs
She also used to have a job working as a driver of a sled coach pulled by horses over
snow in Vt in the winter
She said the dogs were being given by her friends and then
She let me know that she was setting out on a 100 mile/ 25 hour journey in 2 weeks
during winter on the trail the Idditerod Race is held with no intermedite stops
She told me she got on the internet and asked a bunch of mushers about doing it and
they told her what was she waiting for..you only live once

What did I do? I congradulated her on her purchase. I praised her on her sense of adventure and adreneline. I encouraged her to take the huge risk because Almondsen and Scott had done something similar once. I told her not to worry about the weather ,dogs, sled condition any other emergencies or her lack of experience because if she got in trouble her PLB/ EPIRB would allow the CG or the State Troppers to rescue
her. I sent her on her way............

NOT
03-13-2013 12:22 AM
scratchee
Re: virgin

Quote:
Originally Posted by GMFL View Post
You alluded to the fact that he was buying a "charity" boat and that it would most likely be a POS, a derelict. Was my spelling off?

Anyway, good debate, but I've gotta actually work a bit more tonight.

Good wind and fair seas, right?

Gerry
I'm afraid you misread. I identified it as a charity auction (based on what the OP said) as a way to search for a possible match on ebay.

I'll say it again: the listing I saw seemed to be a pretty decent deal. When I was shopping for a boat I'd certainly have considered it for $1600, if it was in my area. I assure you that my own vessel is no museum piece.
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