The benefits of charity can be direct as well as indirect. Most of the time, when a donor donates his car, he won’t be aware of who he would be able to help. One thing’s for sure—when you donate a car to a reputable car donation processing center working with reputable charities ensures that funds from the sale of your vehicle are going to end up in the right hands. The protocols within reputable charity organizations guarantee that such benefits get to where they’re supposed to go—providing programs and services to individuals that need them the most. Continue reading
No matter how people love their cars, there comes a time when they’ll have little use for it and will decide to give them up. Whether it’s due to increased cost of upkeep or that they have their eye set on a replacement, the options for disposing one’s old car are limited. Here are three ways many opt to do when it’s time for them to say goodbye to their old ride. Continue reading
While donating a vehicle seems easier compared to selling, which entails marketing, the donation process can be confusing. If you’re not careful enough, your vehicle might end up in the wrong hands. Therefore, it’s crucial to have an idea of how car donation process works and how it benefits you.
So how does it benefit you? When you’re donating your car to a charity group, you may think that it’s just a contribution. The truth is, besides easily getting rid of your old vehicle, you also become entitled to certain tax deductions based on the sale price of your vehicle. Sure, it’s true you won’t be able to make money from the sale, but often the tax deductions are worth much more and you are supporting your charity. Continue reading
Donors who donate their old vehicles to charity often do so in order to claim a tax deduction. No doubt, getting a tax break seems like a fitting reward for doing something that may benefit other people in the long run. However, while it was possible for the donor to claim the fair market value of a vehicle donation in the past, new regulations now affect the value of a donated vehicle. Continue reading
Donating cars, trucks, motorhomes, and even boats to charitable institutions is becoming a trend as people would rather give up their old vehicles and get a corresponding tax credit than donate cash. But what do charities do with the vehicles they receive as donations from the public? Here are some ways how these institutions make use of donated automobiles: Continue reading
You may be driven to give your vehicle to charity at some point in your life. There will be some apprehensions, but your loved ones can say it will be worth it in the end. You must still determine, though, if the vehicle you’re about to donate is in full condition inside and out. Continue reading
To qualify for a tax deduction from your donated car, you must give to a beneficiary that is registered as a 501(c)(3) organization. In other words, a registered nonprofit.
Charities often include “501(c)(3)” in their descriptions to inform people that they’re nonprofits. The term refers to the section in the Internal Revenue Code, which states that an organization can qualify for tax exemption if it operates for purposes of religion, charity, science, testing for public safety, literature, education, promotion of amateur sports, and prevention of cruelty to animals and kids. Continue reading