Category Archives: Car donations

7 tips on Car Donations

Money donation is actually one of the many means. Car donations have become more and more popular way of donating, as you can see in many charities.

IF you are going to donate your car, here are some easy to follow 7 steps which will be of great help when you donate your car.

  1. Get the max that you actually can and are allowed by the specific law in your donation.
  2. Make sure the all the questions listed on the tax deduction paper of the car donation is all clear to your mind.
  3. Make sure you will get a valid certificate or receipt form the charity which you donate your car. If you don’t got a valid receipt for your donation, in a legal perspective your car donation action hasn’t taken place ever.
  4. If the car you are going to donate has the value of more than 500 dollars, you need to fill in an IRS form.
  5. Make sure everything and every processing steps are clearly documented in case some unnoticed or happenings may occur which may stand in the way of your car donations.
  6. If the car you are going to donate has the value of more than $5000, you need to have an appraisal which is away form both you and your charity, you need to make this process in no question.
  7. Take good photos of your car so as to keep a well record of the donation in case any question may bring about in future.

If bear those tips in mind , you will avoid of making some small mistakes and make you and the charity as well benefit from the donations you make.

Tips on Car Donation Tax Deduction Easy Guide

Nowadays, car donation tax deduction is relatively more and more popular in a number of parts of the nation. In regard of this, it has made car donations in a broad concept, from extra unused vehicles which a family doesn’t use very often to the SUVs, motorcycles and cars that are actually eligible for a donation credit in some aspects.

Except for vehicle donation in a charitable perspective, you also have the ability to set he final sale price of a car, which denotes that a possible hundreds to thousands of dollars saving can make, with one hundred percent of the prceeds from the sale being sent to the charity which you are going to support. If the final sale is just below say $500 on your car, you can still claim the Kelly Book Value for example.

IF your vehicle is donated and then is used by an org, like a senior center making use of a donated SUV, you have the right to claim the value of it.

It is also crucial that when you are going to see a car donation tax deduction which you are to pay, just pay more attention to the person or charity you are going to donate for.Sometimes, the IRS just only allow you to make car donations to the non profit orgs in order to get a credit, so make sure that you know the org is eligible.

When the car is donated, there is a need for you to get the acknowledgement of the car, motorcycle and  VIN with the declared value from the exact charity.

There is usually on thing that could make people puzzled and make some mistakes, that is when people are to make a car donation tax deduction, an incentive may be accepted when they trade in their cars. For example, a charity may provide you a gift card, and other charities may offer you a vacation in exchange for your trade and etc. This kind of incentive could be subtracted from your total deduction.

All in all, there are some details you need to pay some attention in order to get the car donation process smoothly. In this efficient way you can get the benefit from the car donations which you make and the charity can do as well, a reciprocal process.