Tuesday, December 29, 2015

What is a Boat Donation Tax Deduction?

boat donation tax deduction
Many people who have been fortunate in life make charitable donations a part of their yearly financial picture.  Such donations are beneficial to the person making the donation, the organization receiving the donation, those who may be served by the donation, and the community as a whole.  Making a donation to an organization that benefits your community is a great way to feel good about yourself, as well as to give something back to the community in which you have been successful.  
Donations of both cash and usable goods are accepted by many charitable organizations.  Some organizations are set up to receive even donations of large items, such as vehicles and boats.  If you have an old vehicle or boat that you no longer want, or you don't want to go through the cost and hassle of selling it privately, you could easily consider donating it to a local organization.

If you decide to donate a boat to a local charity, one of the financial benefits you will receive is a boat donation tax deduction.  Depending on how the charity will use your donation, you can realize either the entire market value of your boat or a portion thereof as your tax deduction boat donation.  In addition to making sure that the charity you select is equipped to accommodate the donation of vehicles and boats, you will want to make sure that it qualifies as a 501(c)(3) government entity in order to realize your tax deduction.

Many organizations that do charitable, educational or religious work are designated as 501(c)(3) entities by the government.  If you are not sure of the status of the organization, make sure you ask the person there who is in charge of accepting and processing donations.  You can also call the Internal Revenue Service Customer Account Services division for Tax Exempt and Government Entities.  Before you call, make sure you know the name of the charity or organization.  It may also be helpful to have their address.  Your call to this Internal Revenue customer service line is always free.

Wednesday, December 23, 2015

How to Donate My Car Madison

How to Donate My Car Madison

Many people possess a desire to do good, but some don’t really know where to start.  It can feel like you need to be rich to give, but that is not true.  One way to start is to learn how to donate my car Madison so you can consider that instead of selling or trading in the next time you have a vehicle to get rid of.

There are many charities that accept cars for donation, and they usually make it easy for you to do.  You don’t have to worry about cleaning the vehicle from top to bottom, getting repairs done, or investing in advertising like you would if you chose to try to sell the car.  Charities that take cars for donation just need some basic information about the vehicle, then they will help to arrange for transportation.  You can usually contact them by phone or online, and they will need to know the make and model of the vehicle, the VIN, the year, and the mileage.  Sometimes you will have the option to provide additional information, such as the color and the condition of the interior, exterior, and tires.  The answers to these questions usually don’t disqualify the vehicle from donation; they are just trying to get as much information as possible.  In truth, the condition of the vehicle doesn’t really matter because most likely, the charity is going to sell the car at an auction.  It might be sold to a dealer who will fix it up and try to sell it again, or to someone for parts.  The vehicle does not even have to run for charities that take cars for donations to accept it.  If it does run, you can choose to drop it off at the charity, or arrange for them to tow it away.

Charities that take cars for donation give you no cash for your vehicle, but you do have the option to claim the donation as a deduction on your taxes.  Make sure that the charity gives you proof of the donation that includes the name and address of the charity, the date of the donation, and the type of vehicle.

Monday, December 21, 2015

Car Donations Madison After You Upgrade Your Car

Car Donations Madison After You Upgrade Your Car

You may be very attached to your vehicle.  After all, you probably spend a lot of time together, but could that emotional attachment be blinding you to the fact that it is time to upgrade?  Maintenance costs on an aging vehicle can be staggering, plus if you give the old car to car donations Madison before you have driven it into the ground, you may get a better deduction on your taxes.  Here are some reasons that it may be time to look into a new vehicle.

Maintenance costs

There is no avoiding needing a new vehicle when it is seriously damaged due to an accident or major mechanical failure.  But all of those smaller repairs that cost a few hundred dollars at a time really add up.  Take a look at your records and what you have spent on repairs in the past few years to decide if it really is worth it.

A growing family

You may think that you do not want to get rid of your little sports car, but wait until you are trying to get a car seat in it and then constantly trying to get a squirming child in and out of that seat.  If your family is likely to grow, your car needs will as well.

Professional image

If you are a successful professional, it might be time to drive like one.  Even if you don’t worry about your vehicle as a status symbol, clients might.  If you are driving an old clunker, it may give the wrong impression.
Don’t worry that once you decide to upgrade your car it means the end of the line for your trusty old one.  There are many car donations charities that will give the car a chance at another life, this time doing good for someone in need. If your vehicle still runs well, it is possible that your car donation will actually be used as transportation for the charity.  More likely though, the charity will sell it at an auction and use the money for their funding.  Either way, you will have your new car and your old one will be helping charity.

Friday, December 18, 2015

Reasons for Vehicle Donation Milwaukee

vehicle donation milwaukee
Most people choose to make donations to charity for reasons like feeling good about themselves, wanting to help people immediately, or simply believing in a specific cause. All of these reasons are extremely good ones, but there is much more to making donations - and many things can be useful, even if they aren’t always the ones that people initially think of. One of the greatest gifts that an organization receives happens when people like you donate vehicle to charity. Unlike money or food that is used almost at once, a car or truck will help for many months - or years - down the road.

Each vehicle donation charity has different rules and regulations, but they are all relatively the same. The vehicles must have functional wheels so that they may be transported, but it’s ok if they are dented, scratched or even rusted - they won’t be turned away just because they are not cosmetically perfect. Their function is what is important, not their appearance. Milwaukee donate vehicle charities exist to do more than help those that eventually end up with the vehicles, they use the money raised by their sale to help fund charity events and operations.

By donating a vehicle, you’ll be giving more than one person another shot. The person that purchases the vehicle will have a chance to own their own car with no strings attached - no monthly payments that are unable to be paid. The amount that is charged is what people can afford; the sales happen during auctions, so they purchase only what they can pay at the time of sale. This is great, because it means that the new owners can focus on making repairs, doing maintenance and keeping the vehicle roadworthy.

On the other end of things, the charities that oversee the auction process and accept the donations from people like you depend on this type of income to bring in a large part of their yearly funds. Vehicles are worth more than many other donations, making them valuable on many levels. The car and truck money can be used to pay bills, replace necessary items and supplies, support those that depend on the organizations and even for the bulk of costs associated with programs and events like fundraisers, celebrations, and camps for children (and in some cases adults). The bottom line is this: vehicle donation Milwaukee is something that everyone should consider, because it is an extremely rewarding experience for everyone involved.

Thursday, December 10, 2015

Donate a Car Milwaukee Reasons

donate a car milwaukee

Think about this: you decide last minute that you’re going to get away for the weekend - just jump in your car and take off for a few days since you’ve got some time off of work. You pack a bag, check your finances, and hit the road - full tank of gas and all the time in the world to travel. This entire scenario is possible when you own your own vehicle and have the ability to make spur of the moment decisions. For people that don’t own their own vehicles and have to rely on public transportation, this would be an impossible trip to take - unless they were able to get a vehicle because someone decided to donate a car.

The idea of deciding to donate a car to charity may not be one that many people have because a vehicle is a huge donation, and shouldn’t be done spur of the moment. Carefully considering the ramifications of this donation are important, because once it’s done, it’s done. Donated cars and trucks will be taken over by the charity, fixed if necessary and then auctioned off to those that need them - your association ends as soon as you sign the title over and wave goodbye.

Having a vehicle is an important milestone in the lives of many people, but it’s not always possible for everyone to reach. Vehicle donations to charity provide an opportunity for people to purchase vehicles for a reduced cost and have their funds do good - not simply line the pockets of car salesmen and dealerships. When you donate a car Milwaukee, you are ensuring that the money raised helps people and organizations stay afloat throughout various methods.

The money raised from the sale of these vehicles is used to fund camps, trips, programs, supplies, donation drives, pay bills, fix other vehicles and provide food and clothing to those that need them - the money doesn’t sit idle, it is always used quickly and efficiently. Every car that is donated and sold means an opportunity for more than one person; not only will someone have a car that they can use as they see fit, but the money will provide necessary support to many people at once.

Tuesday, December 8, 2015

Donate Car Green Bay: Benefits of Donating a Car

donate car green bay
Are you looking to make a difference in your local community?

Then consider donating a used vehicle you no longer have a need for. Your contribution goes a long way towards helping an organization in need of financial support. The process is rather straightforward and charities are more than happy to arrange free pickup services for you.

The following are benefits you get if you decide to donate car Green Bay

Everyone is familiar with the process of selling a car. First you need to list the vehicle either in a local classified ad or online. Then you meet with potential buyers and agree on a price. The problem is that the process can be rather tedious and even frustrating.

The good news is you don’t need to go through this when you make a donation. All you need to do is call the charity, ask if they will accept your donation, and have them pick up your vehicle. But you will still need to go to your local DMV office to file any paperwork and transfer the title over.

Tax Deductions
When you donate a car, you are eligible to receive a tax deduction when you file your tax return. The only condition is the charity must qualify (i.e. be registered as a 501(c) organization) for you to claim the deduction. The IRS lets you make a claim on the donation in one of two ways: the fair market value of the vehicle or how much it sells for at auction.

For example, if the charity sells the car for $4,000, you can claim that amount when you file. But be sure to obtain receipts and documentation as proof of your donation. The IRS also lets you make a deduction based on the fair market value of the vehicle. You can determine this by using a vehicle pricing guide or researching third party prices.

Should You Donate?
The answer depends. If you have a car that has been gathering dust in the garage, donating it not only clears up more space in your property but also allows you to claim a tax deduction.