car charity

Tax season is upon us and CPA’s and harried men and women across America are trying to navigate the confusion of the IRS tax codes to see how much of their hard earned money they get to keep this year. The good news for your generous heart and your thrifty pocketbook is that donating a car can be a great way to get you a tax credit. What You Should t Know Donating a car is always a good idea when giving to a charity, but in order to make your gift count there are certain rules you have to follow. 1. Know How Much  It Was Sold This number is important if your car sold for more than $500. Donate A Car provides you with this information on IRS Tax Form 1098-C. Keep this information in your financial records and make sure your accountant has it available when doing your taxes. If you donate a car that sells for MORE than $500 you’ll need IRS Form 8283 Section B. 2. Know the Fair Market Value Knowing the Fair Market Value (FMV) of your vehicle is important if t...

When you have an unwanted vehicle, there are so many ways you can get rid of it. You can attempt to sell it online, place a newspaper ad, trade it in to a car dealer, or put it into long-term storage in case you ever need it again. However, those options can be time consuming, expensive and disappointing. One thing that will never let you down is a car donation. Car donation isn't often the first thing that comes to someone's mind when thinking of easy ways to get rid of a vehicle. Why Should I Donate My Car If you aren't sure car donation will be beneficial to you, here are  great reasons that will make you to donate your unwanted car today!   1. You'll Save Money Many of us hold onto unwanted vehicles for our own reasons. Maybe it's sentimental because it's the first car you ever drove. Maybe it's a car you bought years ago intending to fix up. It could be a seasonal vehicle such as a boat or RV that you only use once a year, but pay...