However, people may fail to know how to donate their cars.
Donating the car can be a great way of giving back and helping an individual who needs it. It doesn’t matter if the automobile donated can run or not. What’s important is that it can help someone who is in need.
Donate a Car on Charity: 9 Ways You Should Do
1. Avoid dealing with middlemen
Some for-profit liaison corporations, who advertise assertively on television, billboards, print media, and other forms of advertising, are offering to help donate the vehicle to charity.
2. Look for a worthy charity
There are specific charities that do not accept car donations.
3. Discern the status of the recipient
For the donator to qualify for a deduction, the charity that receives the donation must be an IRS-approved organization.
4. Do the calculations
If one prefers to use a liaison organization, probably because of a hectic schedule, ask the organization regarding the car’s value that will be parted for the charity.
5.Transport the vehicle directly to the charity of choice
Once you have identified the charity of your choice, keep in mind that it requires paying someone to pick up the car and transport it to the charity. To maximize the benefits of the donation, send the vehicle personally.
6. Transport the car with care
It is essential to transfer the title of the vehicle to the charity first before transporting the automobile.
7. The estimated value of the car donation might fail to cut it
When the automobile costs more than five hundred dollars, the Internal Revenue System might want to know how much the charity obtains from it.
8. Provide a comprehensive paper trail
When the donation costs more than five hundred dollars, donators must attach an IRS form to their tax return.
9. Lastly, be detail-oriented
Paper trails may give a burden on the donator’s part.
These are some of the ways on how to donate a car. Following these steps will prevent the hassles associated with selling it and attain a tax deduction at the same time.
Ryan Daniel is a car enthusiast, and he has years of experience in the automotive field as an engineer. Now he is also active as an automobile blogger and member of the auto community.