Donate Your Car With The Internet

Document Sample
Donate Your Car With The Internet Powered By Docstoc
					With the advent of the "Internet", it seems as if you can do just about anything from
the comfort of your own networked computer- that includes donating your car, truck
or other vehicle, to charity...literally, in your pajamas. However, depending upon what
sort of tax break you expect, the deduction you may take from your car/truck is
severely limited by the way your vehicle is ultimately used after donation. Like
anything online, it's best to remain skeptical of anything that sounds too good to be
true when you donate a car to charity. Do your "homework" and research all
possibilities. "Due dilligence" will save you a lot of problems and heartache if you
take this approach.

Since 2005, donated cars to charity have been subject to tighter regulations with strict
regard to the amount you're allowed to deduct from your taxes. However, after
viewing some of the online ads related to "car donation", you'd think nothing had
changed. Anytime you donate a car to charity online, there are now very few
situations where you're able to claim the full "fair market value" as a deduction.

Indeed, it can be difficult to know where to look to find high deductible options. One
place to start is in your local area. Only charities and third-party agents of those
charities who are dealing locally are liable to want your car as a drivable thing. When
donated, a car to charity that still runs is almost always in best used when someone
who will actually be able to drive it is the ultimate recipient of your gift. In that case,
since no actual sale has been made, you'll be able to claim THAT fair price you had
ask for, as if you were selling it yourself.

Of course, if you just want to get rid of the hulk in your yard, you may want to donate
the car to charity in whatever manner is easiest. Often this takes the form of a
scrap-for-cash sort of operation. Research the multitude of online resources if you
don't care about the deduction amount, many of whom make some wild claims about

Never mind that, and just get that thing out of the yard. There should be no charge for
towing, and the company you choose to donate a car to charity through should have
no problem coming out to wherever you are. As long as the title is free and clear, you
can often see your old junker towed away within a day or two of signing up. It is often
a good idea to take the license plates off when you donate a car to charity (if allowed
in your state), to make sure you don't accidentally become liable for someone else's
bad driving.

Sometimes, rather than donate the car to charity, you may want to consider recycling
options. The very same companies may offer a service by where you're not offered
any tax or social benefit, but may instead trade your auto for hotel vouchers or small
vacation packages. If the requirement that your donated car goes to charity isn't high
on your list, this might prove a more agreeable option.
It is also useful to note that a tax deduction not only requires you to file itemized
deductions (rather than taking the standard deduction), but, depending upon the value
of your vehicle, there may also be further "flaming hoops" to jump through. For
instance, though many who donate a car to charity are able to legally claim significant
deductions from the process, if there aren't any other deductions you can claim that
year, you may actually end up paying more on your taxes unless careful.


TAX TIP: Taxpayers should make sure that they contribute their car to an eligible
organization, else their donation will not be tax deductible. They can use the IRS
Website to check that an organization is qualified by searching Publication 78. Taxes
are considered a burden to virtually everyone.But a closer look says that taxes lay the
groundwork for the social services that are provided in this country. Over and over
again, it has been said that taxes support the government.


If you are planning on donating your car locally, the online component of your
journey to donate a car to charity is just that required to get the ball rolling. You may
very well find yourself calling around a bit to find the right charity that can actually
use it. This may be difficult or impossible if your vehicle is is terrible, non-running

Consider what options are legitimately open to you. This will give you an idea of how
to review online links when you decide to donate your vehicle to charity.


alex alaska p. is an internet marketer who primarily promotes products & services
related to article marketing, generating site and blog traffic and viral list-building

Shared By: