Wednesday 19 December 2012

Why Choose Donation?


  • Make sure the charity is eligible to receive tax deductible contributions
  • Stay away from for-profit intermediary organizations that advertise to handle your car donations
  • Choose a high-performing charity
  • If the vehicle you are donating is in running condition, pick a charity that you can drive directly to
  • Make sure the charity has a 501 public charity status
  • The charity should be a tax-deductible organization
  • Make sure the charity ask you to fill out the assignment of ownership space on the charity donation papers, some will ask you to leave it blank to scam you
  • A good charity will ask you to value the vehicle that you are donating to charity
  • Ask if your tax deduction will be determined after your car is sold
  • Make sure you are given a receipt for you donation for tax purposes
  • If your vehicle is worth more than $500 you must complete irs form 8283
  • A good charity will send the vehicle, they will not use it
  • They will not sell vehicles at a discounted price to someone with a low income
  • A charity should help you calculate the fair market value of your vehicle before donating
  • If your vehicle is worth $500 or less it will be eligible as a tax-deductible gift on a tax return
  • If your vehicle is worth more than $500 will require more documentation
  • Donate your car before the end of the calendar year
  • Tax-deductible donations must happen before the end of the year to be applied against current year’s taxes
  • A charity should inform you on your vehicle’s whereabouts constantly
  • Make sure the charity is sending your vehicle as soon as you donate it
  • A good charity chooses recipients who are most in need
  • Ask the charity to help keep records of your donation for tax purposes
  • Take pictures of your vehicle and keep receipts
  • Choose a charity that focus’ on giving to the people
  • Many charities have helped hundreds of struggling individuals and families

No comments:

Post a Comment