Car Donation
Car donations can be done through a variety of different ways, for many reasons, including providing a church vehicle or helping less fortunate people. There are numerous charities within the nation and around the world that operate as non-profit organizations seeking to help the countless poor and disadvantaged persons. These people have become dependant on public assistance, or perhaps should become recipients of such help but have proudly refused to accept. A car donation can be a much needed means of giving them a "leg-up" to reaching the goal of becoming self-sufficient again.
Finding an organization that provides this service to the needy is relatively simple. If one is not aware of local organizations, the local Chamber of Commerce is an excellent way to find those organizations that are legal non-profits and will accept car donations. Not all so-called charitable organizations are legally non-profit and should be asked to provide their non-profit credentials if that is of concern. Their legal status is definitely of issue if making a car donation in order to receive a tax deduction benefit. Searching the Internet with an online search engine will produce hundreds of non-profit organizations which can be directly contacted for their possible acceptance of, and requirements for, accepting this type of charity.
The blessings of the average citizen are numerous, and the abundance of them is a responsibility that can become a burden if not used as God intended when He provided them. "That servant, which knew his lord's will, and...neither did according to his will shall be beaten with many stripes. ...For unto whomsoever much is given, of him shall be much required," (Luke 12:47-48a). Providing someone with a vehicle that no longer has purpose in a household is a blessing of abundance. There are many others who need a blessing and it could be that that car is meant for them. Car donations are a simple way to do "according to [His] will."
Providing this service is relatively simple, but specific guidelines must be adhered to in order to get a tax deduction. The IRS Publication 4303, which was revised in August 2004, which provides their requirements for use of a car donation as a tax-deductible item. One specific item of concern to them is the value placed on the vehicle and they require a written statement from the receiving organization attached to the Form 1040 to qualify the donation if valued more than $500. The "fair market value" can be determined in several different ways, but before making a car donation, it is possible to gain an insight as to the value via the Internet. Other factors in the eligibility of a car donation's tax detectability is the intended use by the charity - whether the charitable service will be provided directly in a program for disadvantaged persons, sold for salvage, or make "significant intervening use of" or "materially improve" the charitable gesture.
Finding an organization that provides this service to the needy is relatively simple. If one is not aware of local organizations, the local Chamber of Commerce is an excellent way to find those organizations that are legal non-profits and will accept car donations. Not all so-called charitable organizations are legally non-profit and should be asked to provide their non-profit credentials if that is of concern. Their legal status is definitely of issue if making a car donation in order to receive a tax deduction benefit. Searching the Internet with an online search engine will produce hundreds of non-profit organizations which can be directly contacted for their possible acceptance of, and requirements for, accepting this type of charity.
The blessings of the average citizen are numerous, and the abundance of them is a responsibility that can become a burden if not used as God intended when He provided them. "That servant, which knew his lord's will, and...neither did according to his will shall be beaten with many stripes. ...For unto whomsoever much is given, of him shall be much required," (Luke 12:47-48a). Providing someone with a vehicle that no longer has purpose in a household is a blessing of abundance. There are many others who need a blessing and it could be that that car is meant for them. Car donations are a simple way to do "according to [His] will."
Providing this service is relatively simple, but specific guidelines must be adhered to in order to get a tax deduction. The IRS Publication 4303, which was revised in August 2004, which provides their requirements for use of a car donation as a tax-deductible item. One specific item of concern to them is the value placed on the vehicle and they require a written statement from the receiving organization attached to the Form 1040 to qualify the donation if valued more than $500. The "fair market value" can be determined in several different ways, but before making a car donation, it is possible to gain an insight as to the value via the Internet. Other factors in the eligibility of a car donation's tax detectability is the intended use by the charity - whether the charitable service will be provided directly in a program for disadvantaged persons, sold for salvage, or make "significant intervening use of" or "materially improve" the charitable gesture.
Car Donation
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