Friday, October 28, 2016

Important Facts About Making Vehicle Donations

Important Facts About Making Vehicle Donations

Nothing makes you feel better than when you can support an organization that represents something you believe in. However, finding the cash to make such a gift is not always easy. That's why so many people in Milwaukee, Wisconsin, choose to make vehicle donations. However, making such a gift is not always as simple as passing the keys over to the next owner. Before they begin the process of making a vehicle donation Milwaukee residents must understand that while the IRS allows them to write off these gifts, there is a lot to understand.

Who to Give it to

One of the first steps to donating a car to charity is to start looking for organizations that qualify under the IRS's exempt status. But finding an organization on their list would be only the beginning. Whenever they're making vehicle donations Milwaukee residents need to ensure that the charitable organization is willing to accept the gift.

While most charities are in a position to accept donations they are not always able to accept donations of vehicles. They may be concerned about insurance, storage issues, and upkeep or resell of the vehicle. For that reason, even if you want to make a vehicle donation Milwaukee charities willing to accept it may not that be many. If you're considering donating your car to charity, always call ahead and make sure that they can accept it.

Third Party

You also need to check on third party sellers to handle your transaction. When making vehicle donations to nonprofits Milwaukee residents will find that some charities will accept it only to turn it over to a third party to sell for them. While some of these third party sellers are honest and above board there are some that have been found literally fleecing the charities they are trying to support. When presenting vehicle donations to charity Milwaukee residents can ensure they get the best traction by making sure that the third party is giving them a fair share of the sale price. Some may only offer a flat fee per car to the charity or a very small percentage keeping the lion's share of the money for themselves.

When providing vehicle donations to nonprofits Milwaukee residents will find that while it can be a simple process, it can become complicated very quickly. This is why many choose to donate to organizations like to make sure that their gift is going to get the best results. That way, the vehicle donations tax deduction Milwaukee residents will claim will be approved by the IRS.

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