Are you interested in donating your car but you don’t know where to start? Once you complete a few key steps, it’s relatively easy to donate a car to charity. Check out www.rawhide.org for a great place to start.
Choose a Charity
There are many amazing organizations out there that accept donations of many kinds. For you to get the correct tax benefits from car donation, you should do some research beforehand. Start by checking to see if the charity you’re interested in holds a 501(c)(3) tax designation.
Next, make sure that the organization you selected will accept your car donation. Some organizations might do drives for car donations, others may accept them year round, while others may not accept them at all.
Do the Paperwork
There is a lot of paperwork required for almost any mode of getting rid of a car (selling, trading, destroying, etc.). The charity you choose might be able to assist you in completing the proper paperwork correctly or answer any questions you might have.
If you choose to donate a car through Rawhide, simply fill out the form on their website; they will contact you to arrange a free pickup (within 24-48 hours), and provide you with the proper tax documentation for your deduction in case you get audited.
You can claim a tax deduction based on the value it sells for at auction, or if that is not applicable, based on the fair market value of the vehicle. Please speak with a tax professional if you have specific questions about claims or forms to ensure everything is filled out properly.
Share with Your Friends
Congrats! You have donated your car! Share your excitement with your friends and on social media. Donating a car is not always something that people remember when their car is no longer needed, or when they are looking for ways to give to a good cause. Seeing you do this good thing will be a reminder for others that it’s an option.
So don’t let that beat up old car rot in your front yard, and stop worrying that it might not start when we want to drive it to the junkyard: donate a car to a Madison charity today!