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Car Donations Improve Communities And Tax Season

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The deadline for filing taxes is almost here. Many people can find this time of year somewhat stressful with thoughts of owing the government and wondering if they will be able to take any deductions. A car donation will allow you to take an automatic deduction of at least $500. Unfortunately the deadline for being able to get a tax deduction for your donated car has passed you can still donate your car and be able to use it as a deduction on your taxes next year.

More important than the deduction that donating your car will yield is the donation itself, many charities such as Goodwill depend heavily on donations to fund and sustain a number of their programs. Donating a car to your local Goodwill can have a lasting impact on members of your community. Vehicles that are in running condition are sometimes used in the wheels to work program which provides people in need with transportation to get work and take care of their families. The proceeds from vehicles that aren’t running are put towards programs that give disabled and disadvantaged individuals the necessary skills and training to join the workforce. Goodwill partners with different local businesses that give these people a chance to hone their skills and gain real world experience.

Donated cars do a lot for charities as well. When you donate your car to your local chapter it goes toward a multitude of different projects. The most common and important is emergency relief services however; different chapters have specific programs unique to their division like the Goodwill house in Philadelphia which gives families displaced by natural disaster a temporary home. Whatever the program and no matter the division your car donation will do both the charity you give your vehicle to a world of good.

Benefits of Charity Car Donation

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When most of us think about charity and our donations, we don’t like to think about what kind of benefits they could have for us. After all, the entire idea behind philanthropy is to give selflessly, without having to worry about what we get in return. The thing is, with certain donations, you can actually take advantage of a very important tax write-off. This is especially true if you choose to donate your car. Car donation laws make it so that you are able to attain certain tax advantages as a product of your generosity.

When you donate a car to charity, you can claim the value of that car on your taxes. Recently, there has been something of a crack down on this because some people were using their car donation to lie on their tax returns. You are allowed to write off only the actual market value of the vehicle when you make a vehicle donation. If I were to donate my car to charity, I would need to find out exactly how much a person would expect to be able to buy that car for on the open market. There are certain ways to figure this out, and it’s very important.

All sorts of charities are taking auto donations, including Goodwill Industries. These places can use your old car for the purposes of helping less fortunate people in your community. You will benefit greatly when you donate a used car if the charity you donate to is able to sell your vehicle for a good price. You will benefit greatly if they are able to attain a price higher than typical market value, as that will be reflected as the value on your tax return. You must make sure, however, that they are planning on selling the vehicle for at least market value, though, as a lower figure will cost you potential tax savings.

Charities That Accept Car Donations

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Many of the large charities out there are looking for all sorts of items, and some of the items they are seeking might be pieces of property that would not normally come to mind. When thinking about Goodwill Industries, small donations and the goods that you can see at their respective thrift stores probably come to mind. Did you know that you can donate a car to these charities, as well?

It is something of an unknown commodity, as people simply neglect to understand that charities are looking for pretty much anything of value that you can contribute. You might first look at this and think that it sounds pretty outrageous to donate your car to one of these charities, but you should further explore the options before totally discounting the idea.

Plenty of people have cars sitting around their home, just picking up dust and killing their grass. Perhaps you have a car that does not run quite as well as it used to, so you had to purchase a new one. What are you going to do with the old one? You cannot sell it, and it does absolutely no good on your side lawn or in your garage. In this case, you might be better off donating your car because it will do good for someone else and it will help you in terms of tax relief.

Vehicle donation is quite a step in terms of philanthropy. However, the prevailing laws out there make it so that there is a lot of benefit for people who decide to help. With that in mind, you should certainly consider helping Goodwill Industries with one of these large, generous donations. In addition to that, you could also donate used card parts, as they can be used by the charities for their scrap value.

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