Car Donation Tax Deduction For You
While the vehicle donation tax deduction you can get is the same everywhere, the way each state qualifies and verifies charities is not the same. But it’s also important to realize that each state has fraudulent car donation charities running under the radar. They seem kosher on the surface, but a closer look will reveal the scam. So you need to do some checking up on any charity you are considering. Good thing there is a site setup to make this a quick process.
Even well-meaning charities, however, may not be operating legitimately. They may have neglected to pay an annual fee to the state’s Attorney General’s office, or filed a form with them. Sometimes the Secretary of State’s office handles charities. Regardless, you need to use due diligence before donating your used vehicle or truck to ANY charity.
…After all, if you donate your vehicle to the wrong charity, you won’t get your car donation tax deduction. But the worst part is the folks who need your donation (or proceeds from your donation) will not get it. Go to the Secretary of State website for any state, and you will probably find something about bogus charities operating in that state.
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The bad part is there seems to be a continuous supply of scam charities popping up. One bogus charity gets shut down and another appears. How can you check out a charity before donating your car or truck to them? Enter the charity’s name into a search box on a state office’s website (Attorney General or Secretary of State website). Many have databases of registered charities that you can access from their websites.
Important note: Most states are quick to point out that just because a charity registers with them does NOT mean the state endorses that charity. The fact is a charity can be “offically” registered but yet donates only a pitifully small percentage of your donation to the needy. So the question is how can you find out if a charity is giving a good percentage of donations to those in need (in addition to being legit)?
…You would check with one or more of the several online ‘charity watchdog’ organizations. These types of services maintain lists of charitable organizations that meet certain criteria. It is on these types of sites that you can find out if the charity you are considering is ‘in good standing’ or not.
Applying for a car donation tax deduction is likely one reason you have for donating your car or truck to a charity. The best thing you stand to get, however, is that feeling of having done a good deed that will help out someone or some family who needs your help. So make sure you are able to get both: Check out a charity the right way!
On the IRS website you can find good info on vehicle donation tax deductions. Charites eligible to receive tax-deductible charitable contributions is listed on IRS Publication 78. Everything you need to know about getting a car donation tax deduction can be downloaded as PDF documents from their web site. The main one you would want to download is called, “A Donor’s Guide to Vehicle Donation” (which is IRS Publication 4303).
Your car donation tax deduction is only a few clicks and phone call away at http://goodwillcardonation.org – where you will find everything you need to know for each of the 50 states.
Article from articlesbase.com
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