Donate Car, Get Tax Exemption

2007-03-08 10:33:40

( Charity )



Did you know that you could get a tax-exemption merely if you donate your car? Read on so you will that know why I decided to donate my car.

There are good individuals who would not think twice if they donate cars to charity. It is nice to get an incentive if you donate your car.

The government provides tax exemptions for individuals who donate old cars. Know the guidelines on how to donate a car.

There are things you should put in mind if you want to donate a car to charity. Know the background of the charity group which you want to place your donation, and that it has never been involved in any shady transaction.

Should you donate car to charity, look into the laws governing tax exemptions. This will help you determine clearly what donations are allowed for deduction.

There are efficient programs for those who want to donate cars. Charity organizations assure that vehicles really go to the proper recipients.

Most honest-to-goodness organizations achieve efficiency by not engaging the services of third-party brokers who usually prey on individuals who donate cars. A vehicle donation program directly made to a charity group allows the institution to get a hundred percent of the profit.

Problems arise when certain individuals use the car donation programs to be able to avail of tax exemptions. These people do these in various ways like setting up “fraudulent” foundations or charity groups using the "Donate Your Car" strategy to lure clients.

Unknown to some donors, their vehicles end up in used-car dealers or second-hand car stores. While individuals donate a car for free, the dealers who get the vehicle enjoy the profit – at the expense of the donors. So be careful against being duped by scrupulous groups, doubling as used-car dealers.

When you donate your car to charity, you don't just donate your car. You are rewarded for your kindness and that reward comes in a tax exemption!


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