- 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
Wednesday, 19 December 2012
Why Choose Donation?
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