Why donate a car is more popular?
Why donate a car or any other vehicle? Overtime Car donations have become a popular way to donate to charities. In this article you will learn about how car donations work and why this has become a popular alternative way to give to a charity.
By definition, car donation is the practice of giving away no-longer-wanted cars, trucks, boats, motorcycles and other vehicles to charity organizations. Recently, car donations have become a popular way to donate to charities, and in recent years more and more charities have started accepting them and making the process very easy to do. Donating a car to charity is a great way to rid your driveway of an unused vehicle, plus you are clearing the clutter around your home. There’s no need to accumulate cars that could be donated to charity. Donating your car results in receiving tax benefits. It reduces the taxes that you would have to pay to the Internal Revenue Service, thus more money in your pocket at the end of the day!
Charitable donations provide a tax benefit; as such, this type of giving has become very popular. For values less than $500, the value of the tax deduction comes from the donor’s own estimate of the car’s value, even if the charity receives less money from actually selling the car.
Deductions for vehicle or car donations over this amount are limited to the sale amount of the vehicle (usually at auction). Non-profit organizations in the US have come to rely increasingly upon the revenue from car donations. This type of donation has become increasingly widespread in the U.S.; in 2000, 733,000 taxpayers reduced their taxes by $654 million.
You can claim a minimum $500 deduction on your itemized federal tax return when you donate your car or other vehicle, boat, motorcycle or truck. If your car sells for more than $500, the sale price will be the amount you can claim as a deduction. Most cars in the United States are accepted for donation, old or new, running or not running. To see how your donation can help disadvantaged youth please start car donation by filling out a form on this page. Regardless of your geographic location, weather you are donating a car in Virginia or donating a car in California, Carsgofar will be able to help.
One of the charities I highly recommend donating your car to is Carsgofar by The Neshama Foundation. Neshama is a non-profit organization that is dedicated to providing support to charities in Israel. They fundraise in the United States and provides 100% of the donations that provide support for Israeli children. The process of donating your car is extremely simple! Just pick up the phone, call Neshama and they will schedule a time to tow it away. For more information visit: http://www.neshamafoundation.org
Warning! You must have documentation of your donation. At a minimum, the documentation you receive from the charity must include your name, the vehicle identification number, the date of your donation and a statement describing the goods and services you received, if any.
The post Why donate a car? appeared first on Car Donation.