Tips for Auto & Car Donation
A charity can receive a donated vehicle for internal usage or simply sold on auction which benefits directly from a car donation. The donated cars either were sold by the charity or by auto dealers to raise funds for the charity. In some extreme situation, auto dealer may only offer charity as little money per car.
Law sometimes has limitation on certain charities for the tax deductions from car donations.
- Make sure the charity your car goes for is eligible to receive tax deduction to the price at which the car will be sold;
- Ask for you donation agent for a receipt from your car donation;
- Have a formal acknowledgement from the charity for declaring donor’s tax return requirement;
- Ask third party for documentation or records the value of your car;
- Take pictures and save your bills for your upgrades of your car for verifying your car value;
- Record the figure of the date and mileage, and condition of your car.
- Remember you are obligated to value the car but not the charity and you will be fined for any inaccuracy.
After the car donation,
- If your donated car was sold within 30 days; ask charity for a certification of sale
- If the donated car hasn’t been sold within 30 day; ask for a receipt for sale.
Car donation in many states requires too much work. Most time charities have asked to do a lot of registration work with sate charity regulator. It is hard to give you a tax relief.
Carangel offers the great service for car donors. It allows car donors to choose the charity they like to benefit from their car donations. The good news, all the money from the donate car goes for good purposes: supporting single mothers, orphans, homeless, teen… And one of projects you may also benefit: Free DVDs for Kids.
They do free car pick-up. And all donors will receive full legal IRS tax deduction for their generous donation.
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