There are several benefits to the donor for giving a car to charity. The following are some of the benefits and some tips to help you in donating your vehicle to charity.
1. Tax Deduction - By donating your unused car to charity you can deduct the value of the vehicle from your taxes.
This benefit will depend on the type of organization you decide to use for donating your vehicle. Some organizations actually sell the vehicle at auction or by other means to raise funds for charity. Others actually give the vehicle to someone in need, such as a family with a child that has special needs, low income, or other various reasons.
Make Sure You Know What the Organization Plans to do with YOUR VECHICLE!
- Make sure you get a receipt from the organization for your car.
- Have an appraisal done on your car before donating it to the organization.
- If the car is worth more than $500, fill out an IRS FORM - 8283. This is very important.
- Make sure the charity gives you written acknowledgment of the donation.
- Take pictures of the vehicle and retain the receipts from maintenance, tires, and other work done on the vehicle.
2. Piece of Mind - Knowing you helped someone in need, its a GREAT FEELING.
- By donating your car to a charity or someone in need, you have made someones life easier.
- Karma is something I strongly believe in...if you do good for others, good things will happen to you!
- There are many other benefits of donating a car to the RIGHT ORGANIZATION. Give it a try!
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