| A Car Donation Does Make a Big Difference |
| By: Jay B Stockman |
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Mother nature’s fury, floods, hurricanes, and earthquakes, have wreaked havoc on many people, and communities. As a result of these devastating events, homes, and lives have been destroyed. Rebuilding infrastructure and property, requires a great deal of resources, and capital. Federal, and local financial aid are much needed, however this aid falls short of what is truly required. Individual contributions are vital to fill these vast short falls.
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Beyond monetary contributions, donating a used vehicle can greatly benefit the needs of these desperate communities. A car donation is a process whereby both the donors, and the recipients benefit from the transaction.
Car Donations are relatively easy, and are done through a charity vehicle donation program. Generally, a telephone call is all that is necessary, in addition to a clear title to the automobile. Many charities will take vehicles that are running or not running. The car donation program will arrange for the vehicle to be picked up, conduct a charity auction sale, and distribute the proceeds to the charity of your choice. It is important to have the following information ready before you make the call:
-Owner's name
-Owner's address
-Owner's telephone number - work and home
-Owner's e-mail address
-Year, Make and model of vehicle
-Running Condition?
-Address where the vehicle is located.
-Approximate mileage on vehicle
Your car donation is fully tax deductible, as long as the charity is a registered 501(c)3 organization. A registered 501(c)3 organization is a non-profit organization permitted by the IRS to accept contributions and offer donors a tax deduction for their gifts. Thanks to a new tax law in effect as of January 2005, the IRS has taken the guesswork out of determining the value of your vehicle. You may deduct the full price that is received from the sale of your car. This greatly simplifies the process, because you no longer have to research and arrive at an estimate of the fair market value of the vehicle. This also eliminates the risk of getting into trouble by overstating the value of your deduction on your tax return. You’ll know exactly the amount you may deduct, eliminating guesswork, and saving both time and risk.
A car donation will help provide humanitarian aid, and disaster relief for devastated areas, and communities. Additionally, a car donation will eliminate the hassles of selling a car, and give something back to a community in need at the same time. A car donation can and will make a difference.
About the Author
Jay B Stockman is a contributing editor for Charity Car Donation Service Resource Visit http://www.car-donation-usa.com/ for more information.
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| How to Donate Your Car to Charity and Get Tax Deduction |
| By: John Lee |
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| Donating your used car to charity is a win-win situation; the charity gets your gift and you get tax deduction. Below are some simple steps to make a car donation. 1. Understand the rules. A good place to read the government rule on car donation is IRS Publication 4303, A Donor's Guide to Car Donations (available on the IRS's website at www.irs.gov). This guide outlines some important rules regarding car donation. For example, one important rule states that car donation must be made to qualified organizations in order to be tax deductible. 2. Determine the value of your used car. Although the blue book might help you determine the value of your car, you should read IRS Publication 561, Determining the Value of Donated Property (available on the IRS's website), to see what your car really worth. 3. Find a charity to donate your vehicle. If you are associated with any charity or non-profit organizations, that organization might be your choice for donating your car. Otherwise, check the Yellow Book or search on the Internet to find an organization to which you feel like donating your car. After you have identified a candidate, you should review IRS Publication 78, which is a list of organizations eligible to receive tax-deductible charitable contributions. This document is also available on the IRS's website and it's searchable. Make sure the candidate charity is eligible. Otherwise, you might not get your tax deduction! 4. Make your donation. After you have made the donation, make sure to ask for a written acknowledgement from the charity. You will need to attach this acknowledgement to your tax return in order to get your tax deduction. About the Author John Lee is a freelance Internet writer. He has written articles for websites such as Car Donation Helper , ( http://www.car4donation.com ) |
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