Well, the first reason to donate your car is you don't have to worry about paying for the cost of the towing! That's right; most places you donate your car to will have it towed for you. All you have to do is call their number, have the owner's slip or vehicle registration when they arrive and your old car will be towed away without fuss. Another reason to donate your car is that you can get that old eye sore out the way, help your favorite charity and get a car donation tax deduction. Great isn't it?!
Okay, so you have found a win, win situation. But you don't know how to go about selecting a charity to donate your car. Not a problem! First think of a group that you really want to help. For example: The youth. You look for a charity that specializes in helping the youth. The easiest way is to look in a charities directory in your local adds, or internet. Generally, if you call they will have the information available for you to donate your car.
Once you have found the charity and decided to donate your car, you are now ready to research information on how to get your car donation tax deduction. On average, your car donation tax deduction is the amount of money your car donation is worth at the time of your donation. So if your car donation is worth $1000 then generally your car donation tax deduction is the same amount. However, because everyone's tax situation is different, consult with an IRS tax representative concerning your car donation tax deduction write offs.
Wow! This sounds great! Now you want to know if your car has to run to be eligible. On average no. Most charities will take running or non-running vehicles. More importantly, is the car is intact with most or all of its parts.
Right! Great! Can I give to multiple charities from one car? Not all charities can, there are some charities with the program capability to allow you this option. Just make sure to ask when you call.
Also, cars are not the only type vehicle you can donate. You can donate trucks, boats, RVs, off road vehicles, and more.
Most importantly, make sure you have the appropriate paper work to prove ownership or can be used to locate documentation of ownership: Ownership Title; Vehicle Registration Renewal Notice; Vehicle Identification Number (VIN); Recent Insurance Information Card; License Plate Number.
Can I donate more than one car per year? Check with your IRS tax agent for details. Most states will allow multiple donations.
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