Have you been wanting to do something for fellow humans? Or maybe for your favorite cause? You can now do so easily if you donate your car to charity. Not only will you feel good about yourself, but you get to claim a tax deduction as well. To maximize the benefits of the donation for your charity and yourself, follow a few simple rules. First, choose a charity that qualifies for a tax rebate. You can check the IRS list for this, or ask the charity itself. Almost all places of worship qualify for the IRS rebate. Ask your place of worship if they will accept your used car as a donation. Once you have confirmed this, get your car valued by an independent assessor. Keep this report handy to show to the IRS in case they question your claims. Also, keep a photo of your car along with this report.
When transferring your car, do a complete and thorough job of it. In particular, do not leave any blanks in the form to be filled up later. This can leave you with unnecessary parking tickets and insurance claims as well. It is better to approach the charity directly rather than through a for-profit organization. Such organizations, though they save you time, hand over only 50 per cent of the sale proceeds to the charity. Some even keep back 90 per cent of the sale proceeds for themselves. Another way in which you can benefit your charity is to drive the car to them instead of making them collect it. This will save them some money – the sum they would otherwise have to pay to get it delivered to them. Follow these simple tips to help your favorite charity and yourself when you are donating a car. You will feel marvelous for your act of charity.
Tags: Act, Car Charity, Car Donation, Charity Car, Donating A Car, Fellow Humans, Handy, Insurance, Insurance Claims, Irs Rebate, Job, Parking Tickets, Photo, Place Of Worship, Places Of Worship, Proceeds, Profit Organization, Tax Deduction, Tax Rebate, Time Hand