A Car For Donation

A Car For Donation - The Least You Can Do

Most of us will eventually need to replace our cars, and when that time comes, we can offer our old car as a donation to charity.

Plenty of people are already offering their car for donation. Offering a car for donation is usually a pretty easy thing to do. Most of the programs that handle car donations will tow your car away for free. There is a tax deduction available for offering your car for donation. Prior to 2005, the available tax deduction was equal to the fair market value of the car offered for donation. A charity or the company that runs its car donation program will often resell the cars they receive. A couple of other things to be aware of if you offer your car for donation:

In most states, it's the donor's responsibility to notify their state's department of motor vehicles of the change in registration after donating their car. Don't forget to do this. If you fail to notify the DMV of the change in ownership, you could be charged for parking tickets and other penalties for violations committed by your car's next owner.

Also, in deciding what charity to donate to, you may want to ask some questions about their vehicle-donation programs. The California Attorney General's Office found in a 2005 that in 2004, less than half of the proceeds raised through charitable donations of vehicles in California ended up going to charities. The rest went to the commercial fundraisers that charities contracted with to manage their vehicle donation programs.

Car Donation - How To Turn Your Old Worn-Out Car Into A Nice Car Donation Tax Deduction!

 

If you're thinking about a charity car donation I'm going to outline some of the facts you should know. You can receive a nice IRS tax deduction for your old car or used car and help someone in need in the process.

It's called car donation or charity car donation when you give a charity organization your vehicle - automobile, car, truck, ATV, RV, airplane or any other vehicle which might or might not be in useable condition. If you have a specific charity in mind for the car donation do some research on it, especially if you're not sure how reputable the charity is. Sometimes charities will use the car donations themselves in their daily charitable activities - sometimes to transport people. If you buy a new car or own a car that isn't running, you can consider donating the car, truck, or other vehicle. Your donation is tax deductible which helps you and the organization that you donated the vehicle to.

Charity car donations are a planned part of the non-profit organization's budget. So if you donate vehicles you will help these organizations continue to function

In a nutshell, car donation means acquiring old cars from donors and donating them to charity organizations. There are car donation companies that are intermediaries or links between the donors and the people who benefited from these donations. They are a big help in funding for charities. The cardonation companies can auction the donated car or other vehicle in the marketplace and the money is given to the charities or the car can be used by the charity organization or be sold on their used car lot.

When you give your car to charity you are given a charitable gift IRS Tax Receipt. The vehicle donations when made to a reputable and bona fide charitable organization are tax-deductible. Make sure to ask if the charity handles the car donations - have their own charity car donation program or pays an outside company to do it. There are no laws preventing charities from accepting these types of donations.

Some of the car donation charities you might see are: Target, Purple Heart, Kidney Foundation, Salvation Army, Goodwill Industries and various cancer organizations.

In any case you will greatly benefit for your charity car donation both in claiming a nice car donation tax deduction or benefit and in helping charities continue to operate so they can help people in need.