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
Convenience
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.
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