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How can we donate old cars to charity?
What is the best charity to donate a car to?
Originally Answered: Which charity is best to donate a car?
We donated a 14 year old Camry to Vehicles for Change, which operates in the Baltimore/Washington DC area. They repaired the vehicle and gave it to the head of household for a low- income family, so they could get to/ from work and support the family.
Bonus 1 was that, instead of the value of my unrepaired vehicle at auction, I received a deduction of it’s Kelly Bluebook value. Much higher benefit on my taxes.
Bonus 2 is that they operate their own repair and body shop, which trains veterans and released convicts in how to do the repair work and support themselves well in society.
Bonus 3, like most other charities, they picked up the vehicle at my house. ust had to give them the title and keys.
How can we donate old cars to charity?
A vehicle you no longer need might prove a dead-weight that holds you back in various ways. You might even be deterred from getting rid of it by the complications in the car-sales process. But most people hardly know that it pays to donate cars in MA more than to sell them.
Also, you might get stuck in a dilemma when your vehicle breaks down to a point where the cost of the repairs and maintenance is greater than the value of the vehicle.
A vehicle that’s no longer in use still incurs cost such as the vehicle’s insurance as well as registration. A vehicle donation might just be the most convenient way to dispose of the vehicle.
By donating your car, not only do you take receipt of financial gains in form of tax deductions, you also enable a charity draw closer to accomplishing her goals.
Tips For Donating Cars In MA
Ensure that you have your vehicle’s title in place: If you loose your vehicle’s title, you can stop by the Registry of Motor Vehicles branch in your locality and file for a duplicate. It’s inappropriate to donate cars in MA that don’t come with their titles.
Ensure the the title transfer is handled personally during the donation: This prevents any possibility of handing over the titles to the wrong hands. The title must be transferred only to the charity or a mandated commercial fundraiser.
If you must deal with an authorized commercial fundraiser, you must ensure that the agent is properly supervised by the charity for tax deductibility reasons.
Know the tax deduction rules that apply to a particular vehicle donation: Different rules apply to car donations in MA. These rules are contingent on the value of the vehicle as well as the way in which the charity chooses to make use of the donation.
Nonetheless, tax deductions apply only to donations made to 501(c)(3) tax-exempt organizations and charities.
To verify if a car donation is eligible for a tax discount, visit your local Public Charities Division, or IRS Tax Exempt/Government Entities Customer Service, or go through a copy of IRS publication 78 which is available in your local library or IRS website.
Note that you’ll most probably find that most religious organizations and government agencies are not registered with the Non-Profit Organizations/Public Charities Division, or in the IRS section 501(c)(3). Nonetheless, these bodies are still eligible for tax deductible donations.
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