|
|
Various charities accept used and even non-working or wrecked cars and other vehicles as donations to help families who have a special need for a vehicle. (List of Charities accepting vehicle donations) Other charities repair and auction the vehicles at a low cost to raise funds for their charitable services as well as putting low cost vehicles back into the community. Non-working, wrecked and non repairable vehicles are often sold for their remaining usable parts and the funds are then used toward providing charitable services.
Many charities will come to your home, remove or tow the car and even handle all of the paperwork associated with the transfer of title and tax deduction receipt. Donating your car is made as simple as possible in exchange for a gift that may save lives or at the very least make someone’s life much easier.
The sorts of people who may receive a donated car include families who have lost everything in a natural disaster, like one on the numerous hurricanes we suffered this year. Single low-income moms with young children who need to be transported to daycare may be recipients of a donated car.
Another program provides vehicles to disabled adults who can drive but are unable to afford a vehicle. Some of those people may include individuals who need daily medical treatments (chemotherapy or dialysis) and have had to use public transportation previously. Exposing them to bus loads of people endangers some of these patients even further with all of the colds and flu’s that are carried by strangers onto public transportation.
If donating a car is something you think you may be interested in, there are a few things to consider before donating your car. Some of the concerns are verifying that the charity is in fact up to the standards that they claim to be, checking on the tax laws in your state and lastly you will want to make sure there are no additional costs that you, personally will incur.
If you are undecided as to where you would like to donate your car, the best resource for discovering the available charities asking for donated vehicles is the internet. A simple search will provide you with many charity choices to begin with. Religious organizations, children’s groups, disability support groups and support groups for victims of natural disasters are often accepting donated cars to raise funds for their organizations or to be given to families in need. A quick Internet search will provide you with a number of options in your area.
Confirm with the irs.gov website (publication 78) to assure that the charity is qualified, reputable and eligible to receive car donations. If you do not have access to the Internet, you can call the IRS Tax Exempt/Government Entities Customer Service line at 877 829-5500 and ask about the charity you are considering.
The charity should be willing to provide you with a letter of thanks or receipt including the charity name, tax ID#, your name, date, and the year, make and model of the vehicle you are donating. Taking a picture of the vehicle is a good idea as well in the event there are questions regarding the value of the vehicle for tax deduction purposes. The irs.gov website can provide you with the IRS form 8283, or the standard non-cash donation form to allow you to take the donation off of your taxes. To deduct the car donation from your taxes you will have to itemize your taxes.