Consider a Car Donation for Charity

If you have any vehicle that you either no longer fully utilize, is broken down or you no longer want, there is a noble way of disposing it that make you feel and come out a better person. You can donate that car to Charity in an easy method that benefits the needy while giving you tax benefits. There are numerous entities that can facilitate the donation process so that you don’t have to go out of your way to ensure that it is properly disposed and the proceeds forwarded to charities in your place of birth, your current community, where your relatives reside or even where you went school. 

 

What Happens To The Car?
The charities that benefit from your generous donation can elect to dispose the car either directly to prospective clients or to a dealership.

They can also elect to hold on to the vehicle for their needs such as the transportation of people and/or equipment.  Such a decision should be communicated to you and any subsequent disposal of the vehicle may attract penalization from the IRS.

How Does The Donation Affect You?
Your old Car donation for charity is considered as a non-monetary donation which is a tax deductible item. This makes it important for you to get the car valued before you donate it in order to ascertain the value for tax purposes. From the valuation you can then safely proceed to fill in the necessary tax forms.

Most issues that are related to taxation enjoy a great deal of scrutiny from the IRS. This makes it important for you to keep a complete file of all the documentation relating to the purchase and maintenance of your car. Adding a few photographs of the car and express proof of the donation ensures you peace of mind. You can find more information and organizations that can help you in donating a car to charity.