Friday, June 22, 2018

The Reasons To Donate A Car To Charity Madison

We live in a confusing world. On the one hand, we are encouraged to be self-centered, putting ourselves before everyone else in order to find success. We are advised to focus on our personal finances and that we must try to amass as much personal wealth as possible. On the other hand, we are a caring society. In this society, we help the less fortunate and we want to support charities that do a lot of good for others whenever possible. One way to do that is an activity that many Madison, Wisconsin residents have figured out: it's when you donate a car to charity Madison 

It's important to understands reasons that people may donate a car to charity Madison

Our vehicles are incredibly important to us. Not only do they take us from point A to point B, they allow us to manage our personal, professional, educational and social lives. Our cars are also often an extension of our personality, with different people preferring different types of vehicles. Simply giving something like that away, which is what you do when you donate a car to charity, feels strange, particularly considering the aforementioned fact that we must look after our own finances. However, there are benefits to be experienced from making a donation as well, including the fact that:
  1. It feels good to do good.
  2. Donating a vehicle is an easy way to get rid of it, without having to go through the hassle of selling it.
  3. If the charity is 501(c)3 registered, you can deduct the value of your donation from your taxable income, meaning you still financially benefit from it.
  4. You know how important it is to help the less fortunate and this is a great way to do it.

How to Donate a Car in Madison

Different charities have different car donation procedures. However, most are based on the Rawhide model, because the latter was one of the first to make such donations possible. You simply inform them of your wish to make a donation and they will come pick your vehicle up. Within 30 days, you will have a tax receipt, and that is all there is to it.


Monday, June 18, 2018

What Are Your Options To Donate Boat To Charity?

Did you know that if you have an old boat that you no longer use, you can donate it to charity? This article will focus on the various options donors have when they give to a donate boat charity. A lot of people think that a boat donation is just that: giving away a boat. In reality, there are three different options available and it is important to understand the pros and cons of each donate boat option.

Option 1 - Donate Boat Directly to Charity

This means that you contact a charity, give them your boat, and let them do with it what they want. The pros are:
  • It is straightforward as the boat will simply be taken off your hands.
  • You can claim a tax deduction if the charity is 501(c)3 registered.
  • You can help a good cause.
The cons are:
  • You have no control over what happens with the boat.
  • The charity may struggle to maximize on the value of the boat.
  • The charity might spend the money raised in a way that you don't agree with.

Option 2 - Donate Boat to a Middleman

You can also donate the boat to a middleman, who then pays part of the proceeds to your chosen charity. The pros are:
  • The charity gets more exposure because of the advertising budget of the middleman.
  • The charity does not have the expense of picking up and selling the boat.
The cons are:
  • Most of the money will go to the middleman.
  • You may not be able to deduct as much from your taxes.

Option 3 - Sell Your Boat and Donate the Proceeds

The final option is for you to sell the boat yourself and then donate the proceeds to your chosen charity. The pros are:
  • You can maximize the money you raise for the boat.
  • You can deduct the value of your donation from your taxes if the charity is 501(c) registered.
Meanwhile, the cons are:
  • Selling a boat can take a lot of time and effort.
  • You will continue to have boat expenses until it is sold.
  • You may be tempted to keep the money instead of giving it to charity.
It is entirely up to you to decide which option will suits you the best, but if you want to learn more about the process of boat donation for one specific charity, visit http://www.rawhide.org/boat-donation/.

Wednesday, June 13, 2018

Is A Boat Donation Tax Deduction A Good Idea?

A lot of people are interested in donating boats to charity because of the tax deduction they can get as a result of the donation. But is this a good idea? As with all things about taxes, it is important that you understand the ins and outs of how things work, and you need to make sure that you stick to the rules.

Can You Claim a Boat Donation Tax Deduction?

The simple answer to this question is "yes". However, you need to make sure that the charity that receives your donate is 501(c)3 registered, which confirms with the IRS that it has charitable status and will not use your donation for anything other than for service delivery. The second important question is "should you file for a boat donation tax deduction"?

The Pros and Cons of a Claiming a Boat Donation Tax Deduction

The value of any donation that you give to a charity can be deducted from your taxable income so long as you keep the receipt and the charity is 501(c)3 registered. This means that, instead of donating a boat, you could also sell the boat yourself and donate the money. Of course, there is quite a bit of hassle involved in doing so. However, there is a risk that you may accidentally use your generosity to line the pockets of for-profit businesses.
There are some companies that act on behalf of charities. They claim to have excellent selling procedures in place that enable them to maximize the value of your donation. They also have huge advertising budgets, which means more people can be reached and encouraged to make donations. However, in return for that, they keep a huge chunk of the donation proceeds for themselves. In fact, in some cases, they keep as much as 95%. The majority of these businesses keep at least half of the money raised, which means only half of what you had intended to use for good will actually go the charity and its service recipients.
Does this mean you shouldn't make a donation? Absolutely not. It simply means that you should not just check whether the charity is 501(c)3 registered, but also that it is actually the charity you are dealing with directly.

Tuesday, May 22, 2018

Choosing Based On The Mission Of The Car Donation Milwaukee Charity

If you plan to donate your vehicle to a car donation Milwaukee charity, you will quickly realize that it is a significant undertaking. Good charities are 501(c)3 registered and have a high efficiency rating. Still, you will have thousands of charitable organizations to choose from. So how do you select the one that is right for you?

The Initial Cull of Car Donation Milwaukee Charities

If you want to find a charity that operates specifically in the Milwaukee area, you should already be able to reduce that number to 2,431, which is the number of registered public charities in Milwaukee. Out of that, there are only a few that accept vehicle donations, so you can further reduce it. Nevertheless, at this point, it will be likely that you will still have around 1,500 charities to choose from.

A Second Cull of Car Donation Milwaukee Charities

To further reduce the number of charities to choose from, you need to decide on a generalized category of service users that you are interested in. They are:
  1. People
  2. Animals
  3. The environment
This should significantly reduce the number of choices. If you choose the environment, you could decide to focus on a particular environment concern or issue, such as fracking or mudslides. If you choose animals, you could focus on a particular animal or on issues such as hunting.

Charities That Focus On Helping People


It should be noted that the vast majority of those who want to make a car donation would want the charity to be focused on helping people. This can be further subdivided into categories, such as:
  1. Age (babies, children, adults, elderly)
  2. Illnesses
  3. Disabilities
  4. Geo-political status
Next, you can also further subdivide those categories into approaches. A good example is provided by visiting http://www.rawhide.org/. They work specifically with at risk youths and their families, providing them with counseling and educational support to help them turn their lives around. They take a Christian-centered approach to achieving that.
With highly specific details, there will only be a few charities to choose from. For this reason, the more you know about what matters to you, the easier it will be for you to make a decision in terms of which charity to donate to.

Saturday, May 19, 2018

Giving To A Donate A Car Madison Charity

If you have an old vehicle standing on your driveway that you no longer want or need, you may want to consider giving it to a donate a car Madison charity. Doing so means that your old, unwanted vehicle gets a new lease of life and that it is able to do something good for others, with the result of helping your community. As an added bonus, if you play your cards right, you will end up financially better off yourself as well.

How to Give to a Donate a Car Madison Charity

Making a car donation is essentially down to choosing the right charity. You want to make sure that your money is actually able to help the less fortunate. This means, firstly, that you should only donate to a 501(c)3 registered charity, which means they are truly a charitable organization and do not use any of the money they raise to lobby the government.
Secondly, you should make sure that the charity is efficient. This tells you that a large percentage of the money that will be donated to them will actually be spent on the service users and not on administrative costs. Websites, such as Charity Navigator, can provide you with the efficiency rating of each charity and you should look for an efficiency rating of at least 80%.

Once you have checked the above, the entire process should be very straightforward. Inform your chosen charity, arrange for them to pick up your car, wait for your tax receipt, and deduct the value of your donation from your taxable income. It really couldn't be easier.

Who to Donate To

One of the few difficulties you may come across when you want to donate your car is choosing the charity. There are so many excellent causes out there. In fact, Wisconsin as a whole is home to 35,000 501(c)3 registered charities. One example of best practice, however, is provided by this charity. They were one of the first charities to accept vehicle donations and continue to lead the way in terms of how the process should be handled. Additionally, they make a very real and positive impact on the community as a whole.

Tuesday, May 15, 2018

The Process Of Giving to a Donate a Vehicle Tax Deduction Green Bay Charity

When looking to get a donate a vehicle tax deduction Green Bay donors need to understand the process itself. Not everybody is aware of this incentive, and even fewer people know exactly how it works. This article aims to educate donors  about how they would be able claim a tax deduction after donating a vehicle in Green Bay, Wisconsin.

The Donate a Vehicle Tax Deduction Green Bay Rule for Charities


There is one important rule that you have to comply with if you want to deduct the value of your donation from your taxable income. That rule is that your donation must have gone to a 501(c)3 registered charity. This tells the government that the money the organization raised will actually go to their service users and overall cause and not to other things, such as lobbying the government or illegal or unsavory activities. If your chosen charity meets those requirements, like Rawhide.org does, for instance, then you can make the donation and then claim the deduction.

The Donate a Vehicle Tax Deduction Green Bay Explanation About How Much Can Be Deducted

The next big question is how much you can deduct when filing your taxes. There are some rules to consider in terms of what the charity does with your donation. In most cases, they will sell the vehicle directly at auction. In those cases, the rules are as follows:

1. If the vehicle was sold for $500 or less, you can deduct $500 or the fair market value of your vehicle, whichever is less.
2. If the vehicle was sold for $501 to $5,000, you can deduct the amount that it was sold for, regardless of the fair market value of your vehicle.
3. If the vehicle was sold for more than $5,000, you can deduct the amount that it was sold for, regardless of the fair market value. However, you will also need to submit an independent valuation of the vehicle to show that the price is reasonable.

The process, as you can see, is reasonably simple. Your charity will send you a tax receipt with the value for which the vehicle was sold and an explanation of what they did with the vehicle. Essentially, the tax receipt, which is usually Form 1098-C, tells you exactly how much you can claim as tax deduction through Form 8283. Yes, it means filling out a few more boxes when filing taxes, but it's all for a great cause.

Monday, May 14, 2018

Should You Donate Boat To Charity?

Some people have a boat because it is a fun thing to own and it enables you to spend hours with the family on the lake, fishing, sunbathing, and generally having a good time. There may come a time, however, when you don't really want the boat anymore, or that you don't have a use for it. The question then becomes whether you should donate boat to charity or whether you should sell it and try to make a profit.

The Pros and Cons of Selling a Boat

The biggest advantage of selling your boat is that you will receive quite a significant sum of money from it to do with as you please. It also means that you no longer have to pay for the storage, maintenance, upkeep, and insurance on the boat, but then you wouldn't have to pay for those anymore if you donate it either. The disadvantages of selling are quite numerous, by contrast. There is the hassle that you will have to go through in order to advertise your boat, show it to others, and listen to unbelievably low and unfair offers. Not just that, but there are also some restrictions with boat sales in terms of which waters they have been on due to environmental contamination potential. While you are going through all of that, you will continue to have to pay the usual expenses that come with owning a boat, no matter how long it takes.

The Pros and Cons of Donate Boat Procedures

The biggest disadvantage of donating a boat is that you do not end up with cash in your hands. However, so long as your charity is 501(c)3 registered, you can deduct the value of your donation from your taxable income tax at the end of the year and reduce your tax. In terms of the advantages, a good charity like Rawhide who has set the standard in terms of how the process should work, has made everything incredibly easy for you. You simply contact them to tell them you have a donation to make, they pick it up, they sell it, and they send you the tax receipt. It is quite easy and convenient. Add to that the fact that when you donate boat, you will be helping other people, which is a priceless thing to do, no matter what the donation may be.