October 22, 2014

A Quick Guide to Donating a Vehicle

When it’s time to say goodbye to your used car, consider giving it away to a charity organization that accepts car donations. This has been done by millions of Americans and has long proved to be a worthwhile endeavor. Not only will it help you properly get rid of your old vehicle, but it also allows you to support charity programs in your own way.

To ensure that your donation is optimized for you and your favorite charity, choose a charitable institution that is IRS-recognized and a processing center that is reputable. This way you will know that your contribution from the sale of your vehicle will be properly earmarked for a recognized charity. Make sure you take the time to look carefully at a not-for-profits 501 c 3 certification, or look for a vehicle donation processing center that has already partnered with certified non-profits organizations.

When donating a vehicle, the processing center will typically send a towing company free-of-charge to pick up your vehicle from your home, office or service station. Make sure there are no hidden fees. Make sure also that your certificate of title is filled out properly when you donate your car. Perhaps you can also help your favorite charity in other ways in the future.

One of the benefits you can get from donating a car is receiving a tax deduction. To make sure your tax deductions are maximized and within the legal limits, please speak with your tax advisor.

No comments:

Post a Comment