A Car For Donation - The Least You Can Do

humanitarian organizations say that the donations they receive in the fall as demand for their services are on the rise of what May be the highest level of our lives.

In this economy, many of us are in a small town to help. However, there is at least one thing that many of us can do. Most of us will eventually have to replace our cars, and when that time comes, we can offer our old cars as donations for charitable purposes.

A lot of people are already offering their car for donations. There were 311,451 car donations in 2005, worth an average $ 1,508 each, according to the IRS.

offer a car donation is usually a fairly easy thing to do. Most programs that deal with car donation will tow your car away for free. Generally, they will accept cars that are not running or can not pass state emissions standards.

There is a tax deduction for your car offered for donation. If you've done it before, though, you should be aware that tax rules are now not as generous as they were in the past.

Before 2005, the available deduction is equal to the fair market value of cars offered for donation.
Now, you are usually only able to deduct the fair market value if the car is worth less than $ 500.

love or a company that runs their car donation program will often sell the cars they receive. Under current tax law, you can only deduct an amount equal to the resale price, unless the car is worth less than $ 500.

Be sure that your love gives you a written documentation of the sale. Charities are required to provide documentation within 30 days.

a few other things to be aware of if you offer a car to donate:

In most states, it is donor responsibility to notify your state department of motor vehicles of change in registration by donating your car. Do not forget to do so. If you do not notify DMV of change in ownership, could be charged for parking tickets and penalties for violations committed in the car next to the owner.

Also, in deciding what charity to donate, you May want to ask some questions about their vehicle donations programa.Kalifornija Attorney's Office found in 2005 in 2004, less than half of the revenues raised by a charitable donation of vehicles in California ended up going for charitable purposes. The rest went to commercial fundraisers to charity contracted to manage their vehicle donation programs.