So you’ve decided that the best way to get rid of that old car is to give it away to charity. What’s next? You just have to find a cause and hand over the keys, right? Not quite; there are a few other things you might want to consider to make the most of your donation.
Find a Worthy Charity
The thing about giving to charity is that you have to consider the moral implications of your donation. In other words, give to a cause that you genuinely believe in, and not just one that everybody else is donating to. Remember, there’s a fine line between charity work and giving away for mere convenience. Continue reading
Donating a car to charity can lighten the financial load on your chest. The IRS, however, takes note of such actions and tries to determine your potential tax liabilities for doing so. Fortunately, there are ways to reconcile your issues with the IRS after you let go of the vehicle.
A reputable car donation service has a list of charities they work with when processing donated vehicles. You are free to do research on your potential beneficiaries’ particulars, but the key indicator should be their inclusion in the IRS’ annual Cumulative List of Organizations as a Section 501 (c) (3) charitable entity. Continue reading