Did you know that giving up your car can be an opportunity to help a charity? That’s right. If you are getting rid of your car to buy a new one, you don’t have to sell it or its parts. You simply have to donate it to charity. This is a win-win situation, but you still need to be careful throughout the process. Below, CarsforMadd shares a few ways to know if you’re doing it right.
Find a Cause You Believe In
Take time to research to know which non-government organizations or advocacies are currently accepting car donations. If you found a cause you believe in but they currently couldn’t accept a car donation, try searching for a website that can help you make it happen.
Know Your Beneficiary
A car donation to charity can lead to a tax deduction, which is very beneficial. To make sure you get this benefit in return of your goodwill, find an IRS-approved 501(c)(3) organization. Aside from that, why not ask your beneficiary some questions like why they need a car donation and what are their plans with it.
Deliver It Personally
Let them know how serious you are by delivering the car yourself. Of course, they would offer to do this themselves, but you should decline, so they could save time and money that they have to pay for the pickup service. Why not extend a helping hand by personally dropping off your old car to their location?
Keep a Paper Trail
To claim your tax deduction, don’t forget to ask the organization for a proof of donation (receipt or title change). This will help make the tax deduction claim easier. You may need an IRS Form 8283 or an outside appraisal, depending on the amount of your tax.
There’s no better feeling than knowing you’ve helped someone. By donating your car, you can help other people and also get something in return. Just follow the simple steps above to make the process smoother and easier.Read More