Original Message:
Re: How to get rid of a timeshare you no longer want .... (by Ken R.):
Ken1193,
I thought I made it clear my original posting and first statement was to only use my "credentials" as a basis for understanding my ability to research, etc. I said up front I was not an accountant.
As for proposing ". . . completely untested and entirely subjective theories on IRS tax implications --- theories never before advanced by experienced CPA's, tax attorneys, or similar folks. . ." I would ask you to simply go to the blog yourself and read it for yourself. While doing that, you will find that the majority of the material presented is direct quotation and simple explanation of the IRS regulations and publications. As to how this can be considered untested and entirely subjective when it's what the IRS is saying is difficult for me to understand, that is unless you didn't take the time to actually read it.
As for your question of appearing if the IRS calls. if you reread your post, you'll see my "error" in not think it was a question, but a statement. It has been asked of me before in this forum at http://www.redweek.com/forums/messages?thread_id=12956 by kekouri. I did answer him and will repeat that for you.
"As for your final question, would we be willing to appear if the IRS came calling. Yes, if we were asked. What we do is expressly according to IRS regulations, publications and guidelines. We do not suggest or advise anyone to do anything the IRS would not accept. I would suggest you go to the blog and read the particular article titled "Timeshare Donations and IRS Regulations". It should be very clear for you and anyone else with an interest."
You might, also, be interested in the tone of response to his questions versus yours and reasons for it. I do not hold myself out as an expert. I provide information for people to use, research on their own and form their own opinion on. Should I bring my CPA onto this forum to try to convince you and others? No. I personally don't think it would do any good. After all, you have your own consultants you can ask and get the answer you want. And if that answer differs from mine and our CPA's and attorney's, I believe people with similar agendas like you presented and what was presented on the TUG would attack them as well. The only way you or anyone else will believe what I've researched is to read it yourself, ask your own questions, get it to your own consultants and ask their opinion.
Since you profess the same credibility I do, being capable and experienced in research, I would expect the same level of response. Read and tell me specifically where I'm wrong and provide references as good research should. As to the level of experience in the involved industries, legal, financial and timeshare, since you have no idea of what mine are, and it wouldn't make any difference to you what I said, again, that's not the issue. Read and research for yourself what I've written before you begin throwing it out as completely worthless, unproven, untested, dishonest, a bad idea, etc.
I, again, ask you the question from before. It should be important to many readers here, that are not in that privileged class of prime timeshare owners who can sell, rent or trade without any real problems. What are your suggestions for them? How does someone get out of a timeshare almost impossible to exit through the normal methods usually expounded? Should they pay their money up front, with no guarantee of success for a listing on some web site? As competent and qualified as this site is, what is their success rate of sellers trying to exit such lackluster properties? Why is eBay still completing auctions on timeshares with minimum bids of $1 with no bidders at all? Please help those instead of despoiling suggestions you disagree with and haven't research yourself.
Dr. Ken Rich