• 07Mar

    car_donationDonating your old car gives you the opportunity to get rid of your old, clunky vehicle and at the same time help charitable institutions. Aside from those, you can also get some tax deductions when you donate your used car.

    Like other people, you might be wondering why do you need to donate your old car when you can trade it in to get a new one? When you look at it, the logic in that move is very sound. You go to a dealer and you bring your old car and minus the value of that to the amount you have to pay them for a new car.

    It may work for some people to have an old vehicle traded in exchange for value and a new vehicle but this is not always the case. A lot of car dealers are not willing to take old cars because they are very hard to resell. Due to the car’s age, its parts are also not that viable due to the normal wear and tear. Let’s say you have a car with a market value of $1,000. Most likely dealers will be willing to give you $300 for it. In contrast, you can get a better deal for a tax exempt when you bring it to a car donation group.

    Do the math and it will make more sense financially to donate your old clunky car. Aside from having a better value thru a tax return, you also have to weigh how you can help charitable organizations and communities.

    Car donation organizations reach out to different charities that support projects for taking care of the elderly, helping the sick, contributing to education, and environmental causes. Donation centers make sure that the donation process is also very easy for used car owners.

  • 12Dec

    car-giftIf you work for an organization that accepts car donation in order to help the hungry, sick and the poor, then kudos to you. We are also pretty sure that your organization has some program prepared to raise more funds during the holiday season.

    Most car donation groups send out emails to ask people in their list to participate in some special events prepared by the company

    Increased donations during the Yuletide

    Studies have shown that donations jump up significantly as the holiday approaches. People just give more as December approaches. It is a season of generosity and desire to help other people. Donating a clunky car may not mean a lot on face value but the little act of kindness brings food to the table of the poor, helps in the research for cancer cure, among others.

    With all the activities and enthusiasm, you need to be careful of causing staff and donor burnout. You do not want to annoy your donors and just send the right amount of invites or information.

    Micro campaigns

    If you do not have the capacity yet to launch a massive marketing campaign during the holiday season, micro campaigns will also work. This will involve your staff, their circle of friends, and circle of families. Results can be seen from such efforts especially during December.

    Last minute campaigns

    With the technology we have today, you only need a few minutes and you can send out the message to a lot of people. Make most of your Facebook page and Twitter to entice those who follow you to donate their old cars for a good cause. The mere fact that they follow you on social media is a giveaway that they are very interested to help other people.

  • 24Oct

    Donating a car to charity was easy before. Bring your clunker to them and you basically get your tax break. A lot of people now find their tax breaks to be smaller that what they have expected while some donors are able to boost the amount of deduction since they know the intricacies of the vehicle donation guidelines.

    The donation process was once uncomplicated until some donors got greedy with the possibilities of tax cuts. Some claimed their vehicles to be of a higher price when in fact they are not. So, lawmakers tightened the rules. Now, in the United States, the tax benefits will depend on the claimed value of the donated vehicle and how the recipient charity uses the car.
    car-donation-tax-deduction

    $500 Threshold

    In most of car donation cases, one must take consider that there can be a $500-limit on giving your cars as gifts for charity. This applies to cars and other donations like boats or airplanes. If the donated automotive goes beyond this amount, claiming your tax deduction can be pretty complicated.

    This limit comes into effect when a donated vehicle is sold by the receiving charity organization. The tax cut will really depend on the sales net. Let’s say you donate your wagon that is worth $1,000. With the old rules, you can deduct the whole fair market value of the vehicle but with the new rules, if this car is sold for only $800, then that is the only amount you can deduct. The charity must give you the proper documents needed to substantiate your claim with the tax agency.

    Exceptions

    There are certain situations though when you can claim the fair market value of the vehicle for tax deduction.

    Say, you donated the $1000-wagon and the recipient food bank decided they will use it for their operations. Later on they decided to sell it for $800. You can still claim for the $1,000 provided the organization gives you documentation that the donated vehicle was used for non-profit purposes plus documentation of the sale. The higher deduction is allowable because of it was put into good use or what the tax regulators call significant intervening purposes.

  • 26Apr

    Just as much as you want to know about your options for personal investment, it also a good practice to research about charities. A lot of people are not very good when it comes to looking into charities but giving your money to an inefficient charity also means money is driven away from organizations which can do more good.

    Here are some tips if you want to investigate which non-profit organization will put your money into good use to help others:

    Look for transparency and results

    There are a lot of charitable organizations that you can support and a lot of them are doing quite interesting works to reach out to the needy. There will be a ton of inspiring stories to move you but you should check for indications that the groups has goals and achieving them. Good charities will explain the things that they do and provide a good picture of what they have achieved so far.

    Look into the numbers

    You can request from the organization a report which they file to the tax agency. This is the best option if you want to know where the money goes and will provide information beyond their promotional brochures, annual reports, and other mailers. Go for groups which spend about three fourths of their funds to provide services . Look out for groups which give a big chunk of the money for the salaries of their officers and leaders.

    Evaluate the team

    Among the most important factor to consider when donating to charities is the leadership of the group. It is not very easy to look into but go for leaders who have been on the job for quite a while and has managed to grow or expand the group thru the years. You can also consider looking into the board of directors and make sure they are respectable members of the society.

    Check if the group is legitimate

    Make sure the charity you are donating to is legitimate. Visit their office and make sure they all have the necessary paperwork. Donating your car to a false charity group is wasting good money which can help hungry children, ill individuals, and other good causes.

  • 27Oct

    Car DonationA lot of people are in need of help, and one way to help children, people who are ill, or people who hunger is through car donation. You may have a ride that has been on your garage for a few months or years now, and you are thinking of getting rid of it. Instead of just throwing it away, call an organization which accepts car donations. They can even send a towing service to get the vehicle from you.

    In exchange of your car, the organization will be issuing your a receipt that can be deductible from your tax. Some towing companies might even offer you a gift card. The charity will fix the car and try t make it road worthy. As soon as it is okay, the car can be sold. The proceeds of the sale will benefit children across your country or other individuals or communities in other countries.

    Benefits of car donation

    A lot of people donate their car and make good use of it since this act is tax deductible. The extra money can be used for extra expenses for your family or the household. The amount of tax deductible will really depend on the condition, make, model, and age of your car. Any major damage may pull the value of the vehicle down since it will take more to make it road worthy .

    Hassle free

    When you make that phone call to donate your old vehicle, the organization will call you back after a day to schedule the collection of the car. Volunteers will be helping you along the way but basically, the only thing you will do Is start the process of giving by calling them, and the rest will be taken cared of.

    Fulfillment in helping oithers

    The biggest benefit well beyond the tax deductions is knowing that you are able to help other people who maybe in a worse condition that you. You can make a difference with simple act of charity. Car donation organizations reach out to a lot of people in the country or abroad. All it takes is a simple act. All it takes is to make that people and start the act of giving.

  • 02Nov

    In recent years a lot of charities have turned to car donation programs as an efficient way to lift funds. A lot of of these charities scamper sound programs. But the state officials are alarmed that, as the end of the tax year approaches and taxpayers complete their charitable donations, several of them are unaware about the status and general facts, keeping and filing necessities. The propagation of car donation programs, has taken place devoid of taxpayers at all times discerning what they must do to take benefit of the assumption. This puzzlement has been sharpened by claims of some of the personal fundraisers who maneuver car donation programs scheduled by experienced charities.

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  • 11Oct

    Several questions will come in mind when you are going to donate a vehicle for the first time. There are numerous charity organizations existing and you can choose any one of them, but get convinced that the charity organization remunerate the majority from your vehicle contribution.

    Before you contribute your car to charitable organization you should study the donor’s guide to car donations and also verify the charity and see if you get a tax benefit, the value of your car and the responsibilities as a donor. Every one of the charity are very concerned in getting your bequest. Nevertheless not every car charities are the alike and all have special terms and dealings for getting and dealing out your contribution. Through any charitable contribution the donor generally want to have a helpful contact with their donation. One should know about the charity that is getting your contribution is the first step. The tax assumption varies based on the price of the motor vehicle.

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  • 30Sep

    Car Donation How ToCar donation is one of the several ways through which you can contribute to the charity work of your society. The cars you donate are taken up by non-profit organizations who make necessary repairs and make them available to the needy people.

    The whole procedure of donating your car is simple and hassle-free. There is no need for you to advertise and spend money on its disposal. You do not even need to fix the problems of your car. There is no question of several people coming to your house in order to inspect the condition of your car.

    When you have made the decision to donate your car, just ring up the authorities and let them know of your generous decision. A representative will approach you within no time and do all the needful. You will have to fill in a donation application form and put your signature in a couple of other documents.

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  • 16Sep

    A car donation is a good quality to aid folks in want, as it involves donating your car to charitable trust through car donation services that make the donation simple and suitable by managing all the linked responsibilities, from selecting up your car to the essential rules and regulations. To recompense benevolent contributions, the government offers a tax assumption provided that contributions are classified tax assumption charity. In the precedent, a tax assumption was according to the fair market value of the donated car and, the government institutes those people’s second-hand car donations for the exclusive intention of enjoying a tax deduction. And the result was that the fair market assessments were not at all times perfect. These principles measured just the construct and mold of the car, and did not think about the car’s depreciated condition. As a result the coarse sum of the donated car did not counter part the fair market value and the tax presumption were of distended rate. To accurate this, the central legislation governing car tax presumption donations was revised in2005.

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  • 03Sep

    If you donate a car to charity, you can never be sure of the amount of the deduction until the charity actually sells the vehicle and reports the sale price to you. Since charities mostly auction the vehicle, the selling price could be much lower than the fair market value. Sometimes you may not get the value you expect. The tax deduction laws of vehicle donations were changed in 2005 by the IRS (Internal Revenue Service). As per the new rules, the selling price of your vehicle is directly related to the amount of your donation deducted. There are many provisions of tax deduction when you make a car donation. You should seek advice from an expert regarding the information relating too charitable tax deductions and also notice the IRS car donation rules. One should be alert about the car donation scams. By donating a car you can curtail all hassles of selling a car. No advertising on papers, no need of answering phone calls, no visitors to inspect your car, the advantage is that you get a healthier transaction for your car.

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