Upgraded to Silver to give away points for tax deduction

[MRoeb Junior Member Find all posts View Profile Close MRoeb]

We just upgraded to Silver yesterday to take advantage of a new referral program started in Jan. 2015? You give away a 3day/2night package and each successful referral is worth $1000 toward maintenance fees and unsuccessful ones can be written off as a tax deduction which could be worth $250 back in taxes. I am now thinking that for it to be tax deductible, you would have to donate the stay to a charitable organization for them to give away. However they said you can do it yourself or they can do it for you. You can even give them your throw away points (saved/white only points). But if you give it to them (BG) to give away for you, they are not a charitable organization so how can you make it a tax write off? The only way to win would be that the person they give it to, actually buys which they are saying is a 46% chance. I am not counting on anyone buying so the charitable donation myself sounds better, just trying to figure out how to do that. Anyone have experience with this new program? May rescind so need some quick answers. Thanks.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Please rescind.

The only way you would get $1,000 toward making fee is IF your friend or family purchase directly from Bluegreen.
This is likely not going to happen more then once or twice.

There is NO WAY any of this under any circumstance is Tax Deductible. They lied to you to get you to buy more points.

Please rescind your purchase. If you would like more points for more vacations you can buy them in expensively on eBay or Redweek.com or myresortnetwork.com but you only have a few days to rescind.

I enjoy my Bluegreen ownership very much but don't buy retail for perceived benefits that depend on getting others to buy full freight.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Rescind quickly as they lied to you about a tax deduction.

[MRoeb Junior Member Find all posts View Profile Close MRoeb]

What do you like about being Silver?

Please rescind.

The only way you would get $1,000 toward making fee is IF your friend or family purchase directly from Bluegreen.
This is likely not going to happen more then once or twice.

There is NO WAY any of this under any circumstance is Tax Deductible. They lied to you to get you to buy more points.

Please rescind your purchase. If you would like more points for more vacations you can buy them in expensively on eBay or Redweek.com or myresortnetwork.com but you only have a few days to rescind.

I enjoy my Bluegreen ownership very much but don't buy retail for perceived benefits that depend on getting others to buy full freight.

If we rescind, we will return to Bronze at 16000 points. We already have next year booked and have 5000 points left so we probably don't need more points. However at Bronze we cannot enter into the Encore Rewards program, but not sure if that is worth $11,000 which takes us to Silver with 22000 points. What do you like about Silver? I would really like a way to get maintenance fees paid for and that is why I wanted this deal, but we are leaning toward Rescinding as you recommended.

[rapmarks Moderator Find all posts View Profile Close rapmarks]

I think that tax deduction is one of the worst lies I have heard.

[SallyHoover Senior Member Find all posts View Profile Close SallyHoover]

If we rescind, we will return to Bronze at 16000 points. We already have next year booked and have 5000 points left so we probably don't need more points. However at Bronze we cannot enter into the Encore Rewards program, but not sure if that is worth $11,000 which takes us to Silver with 22000 points. What do you like about Silver? I would really like a way to get maintenance fees paid for and that is why I wanted this deal, but we are leaning toward Rescinding as you recommended.

There is no way to get your MF paid unless you can rent out your points for more than your MF's.
If you have 20 friends who are itching to purchase $20,000 or more each in retail points from BG maybe it would be worth keeping. Otherwise I would expect your $11,000 purchase to result in an average of $100 in MF reduction if you work really hard at it. In all likelihood it would be quite a bit less.

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Come to your senses and rescind while you can. Follow the instructions word for word. It serves them right for lying to you.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

If we rescind, we will return to Bronze at 16000 points. We already have next year booked and have 5000 points left so we probably don't need more points. However at Bronze we cannot enter into the Encore Rewards program, but not sure if that is worth $11,000 which takes us to Silver with 22000 points. What do you like about Silver? I would really like a way to get maintenance fees paid for and that is why I wanted this deal, but we are leaning toward Rescinding as you recommended.

If you would like help with paying MFs you can get and use a Bluegreen Credit card that allows you to use the "rewards" toward your maintain fee. This is actually not a bad idea. You can put your "usual purchases" on the credit card and pay it off in full each month.

A much better idea then spending 11K.

Let us know how you make out.

[firstlady95 Junior Member Find all posts View Profile Close firstlady95]

We just upgraded to Silver yesterday to take advantage of a new referral program started in Jan. 2015? You give away a 3day/2night package and each successful referral is worth $1000 toward maintenance fees and unsuccessful ones can be written off as a tax deduction which could be worth $250 back in taxes. I am now thinking that for it to be tax deductible, you would have to donate the stay to a charitable organization for them to give away. However they said you can do it yourself or they can do it for you. You can even give them your throw away points (saved/white only points). But if you give it to them (BG) to give away for you, they are not a charitable organization so how can you make it a tax write off? The only way to win would be that the person they give it to, actually buys which they are saying is a 46% chance. I am not counting on anyone buying so the charitable donation myself sounds better, just trying to figure out how to do that. Anyone have experience with this new program? May rescind so need some quick answers. Thanks.

They lied to you. I upgraded to Silver too .They told me they would help me rent out unused points to help with the mfees. That does not happen, I'm still trying to figure out how to rent out points!! If any one out there has any advice I would certainly like help. I usually end up losing most of my points.

[VA_Traveller Senior Member Find all posts View Profile Close VA_Traveller]

They lied to you. I upgraded to Silver too .They told me they would help me rent out unused points to help with the mfees. That does not happen, I'm still trying to figure out how to rent out points!! If any one out there has any advice I would certainly like help. I usually end up losing most of my points.

There is a yahoo group called BGEX which members list points/weeks etc to rent out. Its quite active. Do a google search for it, and you should find it. There are also sites run by members that have listings pages. PM me and I will send you a link to one.

Greg

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

There is a yahoo group called BGEX which members list points/weeks etc to rent out. Its quite active. Do a google search for it, and you should find it. There are also sites run by members that have listings pages. PM me and I will send you a link to one.

Greg

Bluegreen Exchange group.....
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And if it is overwhelming for you to handle the rentals yourself there are members there who will do it for you after you agree on a per point price.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

There is a yahoo group called BGEX which members list points/weeks etc to rent out. Its quite active. Do a google search for it, and you should find it. There are also sites run by members that have listings pages. PM me and I will send you a link to one.

Greg

Bluegreen Exchange group.....
Group Email Addresses

Post Message :
bgex@yahoogroups.com
Subscribe :
bgex-subscribe@yahoogroups.com
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bgex-unsubscribe@yahoogroups.com
List Owner :
bgex-owner@yahoogroups.com