The Do's and Don'ts of Car Donation

The Do's

o Make sure charity is legitimate. Find a charity by name on the IRS website (Publication 78). IRS or speak directly to 1-800-829-1040.

Or do you make love with IRS approved, qualified car to accept tax deductible donations. The charity must be able, qualified IRS Determination Letter Edition.

o Check the charity's annual report how they spend their funds and what is their financial capacity andGoodwill. It offers a real organization requires them. You can also use their power with the Office of the Attorney General.

Or know what happened to pass cars anyway. It will be used for a good cause services? Will love to sell to raise money? Or you recycle? They have a commission or fee? The answers to these questions will give you satisfaction and will also give you answers to the IRS comes to check on your door.

O-Do-Checkwith the Better Business Bureau, if you are unsure of an organization.

The Don'ts

Do not remove more or as much market value of cars a. Remember, it is the same as the full "Blue Book", the value of the car.

o Do not forget that you are responsible only for the car to determine the fair value to take into account the condition of the car. You can also TMV Used Vehicle Appraiser site where you would be in forceDetails of the car and get a report that is ready for printing.

No emergency or formality. You are required to deduct tax in a written assessment to the IRS, if the car is estimated at over $ 5,000. Check out all the little details before deciding to donate a car.

Do not think about or to donate a car it is always advisable. If you fall in the 30 to 40 percent tax bracket would benefit. However, if the car is not worthy of great value andAre you the owner of 20 percent to 15 may be to sell the car and some money, rather than substantial amount as a deduction.