Charity

Record Keeping and Filing Requirements for Car Donation

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Record Keeping and Filing Requirements for Car Donation

Based on the amount you wish to claim as a charitable contribution deduction, you need to maintain certain files and records to manifest your charitable contributions. Following are the necessary recordkeeping and filing requisites that would be helpful. Written Acknowledgement of the Charity You should not forget to get an acknowledgement in black and white […]

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How to Get Fair Market Value of your Car Donation

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How to Get Fair Market Value of your Car Donation

If you are going to claim a deduction of $500 or less value, you must require evaluating your vehicle’s fair market value on the date of the contribution. Usually, fair market value is the cost a buyer would offer and a seller would take for the vehicle, when both the parties are open to buying […]

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What are Tax Implications of Car Donation

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What are Tax Implications of Car Donation

The basic tax process is that IRS permits certain standard deductions from the consolidated income of an individual and according to the income range, applies some percentage of tax on the taxable income. In addition, IRS enables certain itemized deductions and tax deduction on car donation is one such deduction. The car donation is considered […]

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How to Find Worthy Charity for Your Car?

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How to Find Worthy Charity for Your Car?

Given the current America's car donation system, it is easy for car donors to take advantage by donating their cars, although with a little risk that too, to the worthy charity. Following are some of the tips which can reduce that risk, and maximize the value that in fact gets to charity.  In addition it […]

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Simple Tips to Donate a Car or Boat to Charity

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Simple Tips to Donate a Car or Boat to Charity

Before you pass on your car / boat over to someone, read the under mentioned tips. These will help you ensure that you are making the right moves and your donation makes a difference! Avoid Middlemen: Number of for-profit intermediary firms promote extensively on TV, billboards etc, offering help in donating your vehicle to charity. […]

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