Car Donation Fever
A car always attracts attention. In the society of today an automobile
is both a need and a luxury. A need because it is now a must, in order to
survive, for example: you now need a car go to work, buy groceries, and
etc. Car donations are essential parts of most charity fund raising
techniques as well as charity work because there is an endless need for
cars so they are an easy profit.
To emphasize how a car is of such importance, hear this: even junk and
non running cars are accepted as donations. The cars may be repaired or
restored, sold into auction or used by the institution it was donated
into. You know how some peoples’ trash are others’ treasure? Well this is
the case where it is literal.
Think about it, holding on to things that is of no use is utter
depravity. Some people horde, imagine a car under those pile of junk!
Wouldn’t it be good, if you could get rid of that one thing that may give
you more space, feel good about yourself, and get a tax break?
In this time of economic downturn helping people while helping yourself
is a win win situation. The information of going about it is the most
Most Americans have access to the internet, so go online and type in car
donation. Read up, and evaluate your newly acquired knowledge. Sounds
easy right? However, before committing yourself to a charity that looks
and sounds great, look around and do your research. There are companies
that look like a charity but are actually a mediator, and there are even
those that pose as charities when in fact they are not. The easiest way
of looking for the right charity is to visit a local charitable
institution. Conduct an interview with their officer, do not hesitate to
ask questions, after all you want your donation to not only help you but
others as well.
Not only is the charity’s intent important, but also its service towards
you “the donor”. To be able to claim tax write offs, you have to work
hand in hand with the charity because the IRS have now set stringent
rules governing car donations.
Goals For You and For All
After going round the local charities, take time to sit and think about
your agenda. Where do you want your car donation to be used? What are the
organizations goals? Does it coincide with yours? These questions are
important if it is difficult for you to let go of the vehicle you are
The clincher always seems to be the tax deduction, so here’s a gist of
the IRS’ new conditions. To avail of the tax break the charity must issue
an acknowledgement certificate of donation containing the charity’s name
and address, the make and model of your car, its present condition, and a
fair appraisal amount of the car’s worth. Additionally, they must also
state that no goods or services were made in repayment for the car so it
can qualify as a donation. The IRS allows a deduction of not more than
50% of your gross deductible amount. The write off will be based on the
car’s market value, or the amount in which the charity got for the car.