| Any donation you make to help out a worthy cause | | | | laws. A lot of organizations are concerned about |
| can also help you with your taxes. If you have an old | | | | what might happen when the responsibility of tax |
| car parked in your garage and you don't know what | | | | deduction is put under the authority of the charity |
| to do with it, car donation is a wonderful way to help | | | | rather than the donor. Some of them have actually |
| a charity. Although the car donation laws have | | | | sent a letter to the Treasury Secretary that |
| changed, this is still a good way to help yourself and | | | | suggests that people may be discouraged from |
| others too. In 2005, the laws changed regarding tax | | | | donating cars if they aren't aware of the deduction |
| deductions on boats, vehicles or airplanes that are | | | | amount that will be allowed. This, they fear will mean |
| valued over $500. Now, the charity must provide | | | | that some donors will be lost. Charities feel that |
| written documentation or acknowledgment within the | | | | donors must be able to weigh the cost of benefit in |
| 30 days of processing your donation. If the charity | | | | order to know if it is enough for them. If you do |
| gives an exaggerated or false statement, they can | | | | decide to pursue car donation, you will find out that |
| be fined or penalized. Under the January 2005 rules, | | | | the process is easy. You can contact most charities |
| your tax break is based on how the charity uses the | | | | by phone or online. It is important to ask the charity |
| donated vehicle. If the car is sold, the gross sale price | | | | you wish to get involved with for some specific and |
| can be deducted. If the charity uses the donated car | | | | important information. This is necessary in order to |
| following the new law for "significant" charity work | | | | avoid complications and also be sure you understand |
| that is tax approved, you'll be able to deduct the | | | | the process. It's not hard, but does require you to fill |
| market value of the vehicle. However, some stiff | | | | out some important information and get the car |
| penalties will be charged for falsified documents. The | | | | ready. |
| law is watching carefully those charities not following | | | | Daniel Richards has an interest in Automobile related |
| the rules and regulations involved with car donation. | | | | topics. To access more information on vehicle |
| Even though the old laws had some problems, many | | | | donation or how to donate a car to charity please |
| charities are skeptical about the new car donation | | | | click on the link. |