The Process Of Getting A Donate Car Tax Deduction Madison

When you live in Madison, Wisconsin, and you have an old car that you want to get out of your hands because you have realized that it is costing you too much to simply own it, you may want to donate it to a charity like Rawhide. Most people would want to sell the car instead of donate it but there are certain things that make donating the car more attractive. One of these is that you can get a donate car tax deduction Madison.

Process of Getting a Donate Car Tax Deduction Madison

The first step is to chose your charity. If you conduct a search of charities within your area in Madison that can accept a car as a donation, you will likely come up with a number of charities. To ensure that you will be able to claim a tax deduction as a result of your donation, you need to look for those charities that are 501(c)3 registered, because it is only those charities that you can donate to if you want to claim a tax deduction. If you donate to an organization that is not 501(c)3 registered, the IRS will not allow the deduction.

How to Donate to a Charity That Accepts Cars as Donations

You have already trimmed down your list of charities to those that are within the Madison area and those that are 501(c)3 registered. You can trim it down further by looking for reputable charities. You can do this by checking the Better Business Bureau (BBB) website. Check that the BBB rating for the charity is high enough and that there are no consumer complaints about that charity. If there are complaints, check to see if they have been satisfactorily resolved. If not, remove that charity from your list. This may trim down your list to just one charity but if not, try to remove the others from you list by checking on their efficiency. Make sure to choose the one with the highest efficiency.

And finally, when you have chosen one charity, go to the website and look for an online form where you can enter the details of your car. If all goes well, they will contact you and schedule its pick up. After 30 days, they will send you a tax receipt, which you will use in claiming your car donation tax deduction Madison.