Get a Possible Tax Deduction with a Car Donation

Most of us would like to donate more to charity, but our budgets can only stretch so far.  With bills to pay, clothes to buy for growing kids and mouths to feed, charitable donations are usually the last things on our minds. No matter what your financial situation, there's an option that won't cost a cent:  a car donation.

If you have junker that’s been parked outside your house for years because you couldn't afford to fix it, or were planning on repairing it but just couldn't find the time, consider a car donation for a charitable cause.   There are non-profit organizations that will happily accept your old car as a charitable donation. If they can get the car back in working order, then they can sell it to raise funds. If the car is beyond repair, it can be sold for scrap metal.

You'll benefit by having a sense of doing something good.  You'll feel good about getting rid of the eyesore that's been parked in front of the house.  But more important, you car donation can qualify as a tax deduction on your income tax return. Before doing so, however, you should consult your tax professional and also make sure that the charity is recognized as a non-profit organization by the IRS. 

All most charities ask is that you provide the title and car keys.  They will tow the donated car away free of charge. Check with your local Chamber of Commerce or charitable organizations for charities that accept car donations.  Of course, you can also find a charity near you that will accept a car donation on the Internet.

"Get a Possible Tax Deduction with a Car Donation" contributed by Ian McAffey