วันพฤหัสบดีที่ 12 พฤศจิกายน พ.ศ. 2552

Why Not Donate A Car - And Get Tax Deduction

It is unfortunate to say that there are many people who are without a vehicle when it matters most. Without a acceptable vehicle, simple tasks like grocery shopping, going to work, and dropping your children off at school become challenging to do, something that many people who have never been in that situation may take for granted. In spite of the fact that it is a selfless deed, donating a vehicle to charity has many more good qualities as well. Have you attempted getting rid of your outdated vehicle? Working to get somebody inquisitve enough to purchase it can be quite a irritating and difficult task. People usually expect a car that is in decent condition, and if your vehicle doesn't quite meet higher standards, you'll have to invest money into it in order to bring it up to par. And of course, most people don't settle for the asking price, which means you'll have to bargain back and forth, also a trying task. Investing so much of your own money and time into a car that may end up selling for much less than what you've spent can prove to be a futile endeavor. There is a way to unload your old vehicle without having to mess with improving its condition first, and that is to donate your car. If your car doesn't operate, the charity you donate it to will often come to you and tow it away for free! When you donate your vehicle, you'll save yourself the trouble of having to place ads in the classified section of your local newspaper, and you won't have to wait around praying somebody will be curious enough to even come and look at it. In the end, selling an older vehicle can be a monetary drain, and a consumption of time. If your old car isn't valued at much, you should certainly consider a charitable donation to somebody who could actually benefit from it. And if you're hesitant that you'll be losing out on money (however small the amount), you might be happy to hear that in many cases you may be able to claim it as a tax deduction when income tax time rolls around! As reported by the IRS, a charitable contribution made to a 501(c)(3) organization within the U.S. may very well qualify you to a tax deduction. Books such as the Kelley Blue Book and the National Automobile Dealers Association (NADA) provide a way to research what your vehicle is worth, which may help you in your opting to donate your car to charity. You want to make sure you figure out what your charity does with the vehicles they get through donations, as the tax break you receive from resale differs from the tax break you receive from simply using the donation for parts. This is why it's necessary to communicate your questions and concerns in detail with the charity of your choice, to make sure you fully understand how they intend to utilize your donation. So not only will you gain from making such a giving donation, but you can feel good knowing that you are helping someone else who is perhaps in a much more needy situation. Realistically, you can't lose! Not only do you save yourself the hassle of attempting to sell your vehicle on your own, but you receive the added gift of feeling blessed in your generosity.

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