Donate a car, bestow a smile

An old and outdated car, a long neglected forlorn victim of inordinate useless workshop repairs, is obviously not an ornament to your garage! Thinking back, it might be your long time thought of making your life meaningful by doing something nobly laudable. Wondering how the two totally different thoughts are making sense? Here is a chance to get rid of your wheels of burden while at the same time, lighting the cause for a smile- Donate a car!

To donate a car for charity doesn’t stand out for just its nobility, but even for the economic benefit you can attain through tax deduction. A significant point to be noted here is that, the tax deduction for used automobiles, boats or airplanes is valid only when it is donated to a qualified charity and who record the deductions on their tax returns.

Various factors have to be kept in mind before you donate a car:

1) To make sure your charitable organization receives maximum profit out of your donation, always avoid the interference of any middlemen

2) Check out the status of the institution to which you donate a car- whether it is well recognized and has an IRS-approved 501(c)(3) certification

3) Re title the vehicle before you transfer it to them and if possible make the delivery all by yourself

4) Maintain a good track of the legal paper trail

5) Keep receipts from the charity stating how much money they got out of your donation, the IRS might want to see this as evidence in connection to your tax deductions.

Not that the charitable organization is going to merrily drive around your age old car, but as you donate a car, they might acquire a reasonable monetary merit out of it. Once again, take a look at the grandpa of your garage and realize he can be a cause to make the world a better place, as he saves your own time and money together.