How much do Realtors give to Charity?

Giving back to the community is something your Realtors in the Denver North Metro Area, Jeffrey Harmes and The Harmes Team, believe strongly in. Buying a home is a huge investment and when working with an experienced Realtor you should know that across the states they work their way not just to be successful in their business but also to give value to the transaction and be able to give back to the community through donating to charitable institutions or causes.

The state of Colorado implements rules and regulations when it comes to donating to which charitable institutions/causes. Donations can come in all forms including Real Estate, cash, services, and other useful resources beneficial to the recipients of the generosity. In return, the benevolent Realtors who give back to the community get something in return too, in the form of a Tax Deduction.  It has been customary for Realtors to donate a portion of their commission to charity as Jeffrey Harmes and The Harmes Team do.  Other than philanthropic reasons, it gives the Realtor a business edge by committing a certain percentage of the earnings back to the community. 

Donations are pledged with each transaction, included in writing before the deal reaches closing.  This enables the escrow company to automatically forward the committed percentage of the commission to the chosen charitable cause/institution as guided by state law.  Come tax season, if the charitable cause/institution complies with the strict requirements of the IRS, the Realtor receives an income tax deduction depending on the amount donated. It’s a win-win situation for both the client and the Realtor. There is a limit to the deduction of a 50% maximum rule.  If your donation exceeds 50% of your AGI (Adjusted Gross Income), the excess can be carried over to the following year.  Form 1040 should be filled out and the donations should be itemized in Schedule A.  A guide to making charitable donations must be followed in order for the donation to be accounted for and not wasted.   Jeffrey Harmes and The Harmes Team love to give a portion of their earnings with each closed sale to various charitable institutions such Betties Hope, Children’s Hospital, Precious Child, Cancer Society, Flat Irons Church, Goodwill, Emily’s Parade, and many many more.  It is our way of paying it forward by giving back to the community.

If you are thinking of selling or buying a home, let us help you and help us pay it forward. Remember THE HARMES TEAM!

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