Skis with Skins - ABSOLUTE AUCTION. BID HERE.

Rich and Benj - Thanks for your kind words and support. We appreciate the NWAC and all they do. It makes one proud to be a backcountry user in the PNW knowing that the NWAC plans, develops, installs and maintains the most comprehensive data network of its kind in the United States. The 2010 Annual Report of how the budget is utilized is impressive - I only wish my ex-wife could make a dollar go so far.  :

So I have a bid of $65  from jeff_s.

The skins alone have to be worth $70.

Who will bid $70?

$70. (I bid).

$70. (I bid).

Rock on.

$70 to Marcus.

Don't forget, gang this should be a tax deductable donation; FOAC is an IRS approved tax exempt non-profit.

Who will go $75?

Don't want to be negative about a good fundraising effort, but who really knows about tax-deductible? If you buy something for market value and thus get the value of the thing, does it qualify as a donation? It might be that a qualifying donation is what you pay in excess of market value.

Giving tax advice, rocky shoals ...

Don't want to be negative about a good fundraising effort, but who really knows about tax-deductible? If you buy something for market value and thus get the value of the thing, does it qualify as a donation? It might be that a qualifying donation is what you pay in excess of market value.

Thanks Travertine.
I hadn’t taken the time to get all the tax logistics nailed down for this first FOAC Benefit Auction figuring that we would get them all ironed out as we got this first one completed. Your post just reminds me that the sooner we get all those details clarified the easier the next one will be. And you made a bid so you really have a right to know what the deal is.  Others may want to know before they do a similar auction.
I have passed the concern on to Benj Wadsworth the Director of FOAC to give us his opinion. He would likely be more qualified on the tax treatment of donations and such that most of the rest of us.

Giving tax advice, rocky shoals ...

On this topic you may have missed my “weasel” language:
• “purchase price may be tax deductable – check with your tax professional”, and
• “this should be a tax deductable donation” (my emphasis added here).

I’m not a CPA (nor do I play one on TV) so I don’t give tax advice.
Nonetheless, here’s my logic for feeling comfortable saying that it “should” be deductable:
1. If I just donated the skis to FOAC they would give me a receipt for Fair Market Value (whatever that is) and then NWAC could use the skis, sell them or whatever.
2. Likewise, if I didn’t care about the deduction and so I gave the skis to you, and you then donated the skis to FOAC, it seems to me like you should likewise be entitled to the same receipt and deduction as I would have benefited from in the first example.
3. So my logic with the auction is that in essence what we are doing is that I am giving the skis to the successful bidder, who in turn is donating the skis to FOAC who is in turn selling them at FMV (as evidenced by the auction price) and then supplying the bidder with a donation receipt for that like amount.

Whether that plays with the IRS or not I have no way of knowing. My guess is that it will work with every single one of the folks that report it as such who are not audited; and it will only work with some of the folks who are audited, regardless of whether it is spot on correct or not.

Benj may have some more enlightenment for us on the topic later on… maybe even before the auction is concluded. We may also have some CPAs or other tax professionals that might care to comment on the matter.

That said, again, I have $70 from Marcus.

Who will give me $75 regardless of the tax consequences?

Where I come from (Kentucky) lawyers are for getting you out of trouble once your in it. No advice needed upfront! Make it 75$ to round out my collection of these super soft powder skis!