IMPORTANT TAX & FINANCIAL CONSIDERATIONS

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Valuation of Niche: The seller has stated that the fair market value of the specified niche is $900. This valuation serves as the basis for the transaction.

 

Donation Clause: The agreement specifies that any additional money paid by the buyer beyond the specified value ($900) shall be considered a donation. This donation is intended for religious and charitable purposes as determined by the seller (the 501(c)(3) organization).

Tax Implications: The buyer is advised to consult with their income tax advisor regarding the proper income tax treatment of the payments made under this agreement. The seller has made it clear that they are not responsible for any potential tax consequences that arise from these payments.

Seller's Disclaimer: The seller explicitly disclaims any warranties, representations, or guarantees regarding how taxing authorities may treat the buyer's payment for income tax purposes.

501(c)(3) Organization: The seller is identified as a 501(c)(3) organization under the Bishop of the Diocese of Fresno, California. This means that donations made to this organization are generally tax-deductible as allowed by law. Specific details regarding tax deductions should be discussed with a tax specialist.

This transaction involves the purchase of a niche with a specified value, along with a required donation the buyer makes as a donation for charitable purposes. However, the buyer is responsible for consulting their tax advisor regarding the tax treatment of these payments, and the seller (501(c)(3) organization) is not liable for any tax-related consequences arising from these payments.

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This should not be considered legal or tax advice.

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Modified: January 1, 2024

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