donate a car to charity

2007-03-08 10:33:40

( Charity )



Donate old cars to charity and it will help other people in need. It can also give you the benefit of having tax deduction. You just have to be cautious of the charity organization that you choose. You have to make sure that when you donate your car the charity organization is an eligible candidate for tax reductions.

You can donate a car to charity in three different ways. One of which is for the charity organization to use the donated vehicle as their service. Another is for the charity organization to sell the donated vehicle and use the money to pay for projects, campaigns, electricity, and water bills. Lastly, you can donate a car to charity with the aid of a business-like group that will tow your vehicle from your house and in return, they will get a small amount of the money when they sell your vehicle. The rest of the money from the sale of your car will proceed to your chosen charity organization.

There are many non-profit organizations that are eligible for tax reduction. These are usually spiritual and educational groups. Normally, value of the vehicle you donate is synonymous to the value of the tax deduction that you will get. Thus, you have to consult with a tax professional regarding the amount that should be deducted in your tax. Things like car accessories are also considered factors for tax reduction. Most importantly, you have to get a copy of the receipt of your donated vehicle, you may need it for audit.

When you donate a car to charity, it is best to choose your own charity organization, if in case you are a member of which. If not, choose an organization that is closest to your heart. When you donate a car to charity organization, you not only feel good because you are able to help the society, but you also get a privilege of tax deduction.


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