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Tax benefits of dontaing car in charity

Wednesday, 21 May 2014


Get The VFC Tax Advantage

 
 
Vehicles for Change (VFC) car donors gain a tax advantage that you can’t get with most charities. To understand why, you need to know that more than 99 percent of U.S. charities use donated cars for revenue only. They send vehicles directly to auction as is, sight unseen. Generally, their donors can deduct the auction selling price.
VFC is different. We’re the only organization in Maryland, Virginia and Washington D.C. that awards donated vehicles to families in need. Because that’s our mission, IRS regulations allow many VFC donors to claim the full fair market value of their car—the maximum permitted by law. But this is just one way a VFC donor can deduct the fair market value.
Inspecting every donation, our seasoned staff determines how to derive the greatest value for VFC families while maximizing the donor’s tax deduction. Donated cars fall into four categories:

1. A vehicle we can recondition for less than $1,000 and will provide at least 24,000 miles or two years of reliable service.

Typically, these cars are less than 10-12 years old and have fewer than 140,000 miles, although some cars are outside of this range.
What we do: Covering all costs, we prepare the car and award it to a qualified low-income family.
VFC tax advantage:  Our mission of providing cars for underprivileged families entitles donors to claim the car’s full fair market value under IRS rules.

2. A car that needs a major repair (e.g. new transmission) but is otherwise in great condition.

What we do: Covering all costs, we make major and minor repairs and clean the vehicle to maximize its value. Then, we sell it through Freedom Wheels, our retail used-car business. Proceeds allow us to prepare suitable vehicles for more families.
VFC tax advantage: Because major repairs constitute an improvement, IRS rules permit the donor to claim the car’s full fair market value. This often results in a deduction that’s double the size of what it would have been had the unimproved car gone to auction.

3. A luxury car that’s in good condition.

Because they can be expensive to repair and maintain, VFC doesn’t provide luxury cars to low income families. But if one is in good condition, VFC can still provide the donor with a deduction close or equal to the fair market value.
What we do: We spruce it up and make any minor repairs in order to maximize its value. Then, we sell it through Freedom Wheels, our retail used-car business. All proceeds support VFC’s operations.
VFC tax advantage: Although not considered official improvements, cleaning and minor repairs can boost the value of a car, translating into a higher selling price and bigger deduction. At Freedom Wheels, these cars typically sell for near or more than the fair market value—often double what they would have raised at another nonprofit’s auction. VFC donors may claim the selling price, up to the car’s fair market value.

4. A car that doesn’t meet our reliability standards and wouldn’t be cost-effective to improve.

What we do: After being reviewed by a VFC staff member, this car is spruced up and may receive minor repairs, if necessary, to maximize its value. One of several auction partners is selected to achieve the greatest selling price; in many cases we assign a minimum bid to the car.
VFC tax advantage: Selecting the appropriate auction house, assigning a minimum bid and making minor enhancements can help attain a higher selling price and provide a greater deduction. Donors may claim an amount equal to the sale, up to the car’s fair market value.
Please note: Deductions many vary depending on individual circumstances. Please consult your tax advisor and see the Internal Revenue Service’s “A Donor’s Guide to Vehicle Donations.” Another helpful resource is the IRS’s “Determining the Value of Donated Property.”

How to Donate A Car in Maryland

Saturday, 8 February 2014

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  • Call our toll free number (866) 392-4483 or fill out a donation form on-line. You will need to provide us with the year, make, model and approximate mileage of your vehicle. In addition, you will need the vehicle identification number (VIN), which is a 17-digit number found on your registration, title, or insurance policy. It can also be found on your car, near the base of the windshield, usually on the left-hand side.
  • If calling during non-business hours, please leave your name and phone number (with area code) on the recording and a donation representative will return your call as soon as possible.
  • Your signed title is required at time of pickup.
  • An insured and licensed towing company will make arrangements with you directly to pick up the vehicle. They can usually pick up the vehicle within 1-2 days or faster under specific requests and tower availability. Good news! If you work, are not at home during the day, or are in a different state than the vehicle, you are not required to be present for the pick-up. You may mail the title and keys to the yard, or they can be left with the vehicle upon pick-up.
  • Once we have sold your vehicle, we will mail you an official receipt acknowledging your charitable contribution (our receipt/acknowledgement is compliant with the new tax laws beginning January 1, 2005). The receipt is necessary to claim your tax deduction.
  • If you have any other questions, please feel free to call us or email us at info@donateforcharity.com.

DONATING A CAR IN MARYLAND

If you want to maximize your charitable contribution, and get the largest tax deduction, Donate for Charity is *the* choice for donating your car in Maryland. With auction facilities in Baltimore, Elkridge (Baltimore), Harrisburg, PA and Waldorf (Washington D.C.), and free towing from pretty much anywhere in MD state, we can make the donation process smooth and easy, allowing your charity to receive their donation sooner (and more of it!).
How do we do it? We keep our overhead low, and during our decades of car donations have cultivate relationships with towing companies, auction houses and charities to ensure the maximum tax deduction and charitable contribution feasible is the end result of all the Maryland car donations we facilitate.
We keep our business lean so charities (and you) win!
Give to your favorite charity today (before the end of the year) and get a 2013 tax deduction for your old car!
Thank you for your car donation. It is appreciated!
Below we have listed the charities that can receive car donations in Maryland and nationwide. Before you select the charity for your Maryland car donation you can read through our FAQ to learn how our program works and why we are the best choice for vehicle donations in Maryland. If you already have a charity in mind or once you have selected a charity and are ready to donate your car, please use our convenient car donation form or call us toll-free at (866) 392-4483 to donate over the phone.
We endeavor to make the car donation process as easy and smooth for car donors as possible, with free towing and we help with all the paperwork, personally and free of charge!

HOW TO DONATE A CAR IN CALIFORNIA

Donate a Car 2 Charity:  Free Pickup, often within 24 hours!

Donate a Car 2 Charity provides convenient and free pickup of car donations nationwide -- often within 24 hours of your donation! There is no hassle and no hidden costs!  You can donate your car now by filling out the online car donation form or calling toll free: 1 (866) 948-4483
 

Donate Your Vehicle -- Running or Not!

We accept vehicles whether they are running or not!  Got an old junker you need hauled off your property? Give us a call & we'll provide fast, free towing!
 

Free Service -- Absolutely No Hidden Costs

We provide free towing -- and we cover all document transfer fees.  There is absolutely no cost to you!
 

No Title? - No Problem

Have you lost your title?  In most States we can pick up your car even without the title. If your vehicle donation needs title work, our Title Solutions Department will work with you to get the replacement title, at no cost to you.
 

Maximize the Tax Deduction for Your Car Donation

With over 11 years of experience in accepting vehicle donations, Donate a Car 2 Charity will help you receive the maximum tax deduction for your car donation. We evaluate each car that is submitted to determine your options and provide the best possible tax deduction.  Got more questions about your tax deduction? Visit our Tax Deduction Info page.
 

Donate a Car in California

Donate a car to support any of the California non-profits listed below. We accept car donations on behalf of charitable and non-profit organizations throughout California — from San Diego to Crescent City. We accept cars, trucks, trailers, boats, RV's, motorcycles, and many other motorized vehicles. In most cases, we can accept your vehicle even if it hasn't run in years! And pickup of your vehicle is always free!

Learn More About How to Donate a Car

If you've never donated a car or other vehicle before, please see our How to Donate a Car page for information about what steps are required to donate. For answers to common car donation questions, please read our Car Donation FAQ page.
Donate your car, truck, RV, boat, or other vehicle to any organization listed below. If your favorite non-profit is not listed, read about how to donate a car to any non-profit.
Turn that unused car into a tax deduction. Donate your vehicle today    

Donate your car, truck, boat or RV to Volunteers of America.  

It’s easy to do. Skip the hassle of selling your vehicle. Pick up is fast, and free. Just call 1-877-721-4862 or use this online form.

It’s good for you. We will mail you an official receipt acknowledging your charitable contribution. You can attach this receipt and claim a deduction on your itemized tax return for this year. Learn more about vehicle donation tax deduction.

It helps others too. Volunteers of America has been caring for people in need for more than a century. Proceeds from your vehicle donation stay local—helping us do more to improve lives right in your community.
- See more at: http://www.voa.org/Get-Involved/Give/Donate-Your-Vehicle#sthash.bcRzdWgo.dpuf
Turn that unused car into a tax deduction. Donate your vehicle today    

Donate your car, truck, boat or RV to Volunteers of America.  

It’s easy to do. Skip the hassle of selling your vehicle. Pick up is fast, and free. Just call 1-877-721-4862 or use this online form.

It’s good for you. We will mail you an official receipt acknowledging your charitable contribution. You can attach this receipt and claim a deduction on your itemized tax return for this year. Learn more about vehicle donation tax deduction.

It helps others too. Volunteers of America has been caring for people in need for more than a century. Proceeds from your vehicle donation stay local—helping us do more to improve lives right in your community.
- See more at: http://www.voa.org/Get-Involved/Give/Donate-Your-Vehicle#sthash.bcRzdWgo.dpuf
Turn that unused car into a tax deduction. Donate your vehicle today    

Donate your car, truck, boat or RV to Volunteers of America.  

It’s easy to do. Skip the hassle of selling your vehicle. Pick up is fast, and free. Just call 1-877-721-4862 or use this online form.

It’s good for you. We will mail you an official receipt acknowledging your charitable contribution. You can attach this receipt and claim a deduction on your itemized tax return for this year. Learn more about vehicle donation tax deduction.

It helps others too. Volunteers of America has been caring for people in need for more than a century. Proceeds from your vehicle donation stay local—helping us do more to improve lives right in your community.
- See more at: http://www.voa.org/Get-Involved/Give/Donate-Your-Vehicle#sthash.bcRzdWgo.dpuf
Turn that unused car into a tax deduction. Donate your vehicle today    

Donate your car, truck, boat or RV to Volunteers of America.  

It’s easy to do. Skip the hassle of selling your vehicle. Pick up is fast, and free. Just call 1-877-721-4862 or use this online form.

It’s good for you. We will mail you an official receipt acknowledging your charitable contribution. You can attach this receipt and claim a deduction on your itemized tax return for this year. Learn more about vehicle donation tax deduction.

It helps others too. Volunteers of America has been caring for people in need for more than a century. Proceeds from your vehicle donation stay local—helping us do more to improve lives right in your community.
- See more at: http://www.voa.org/Get-Involved/Give/Donate-Your-Vehicle#sthash.bcRzdWgo.dpuf

Vehicle Donation Program

Free Pick Up Service For Any Vehicle
Donate your vehicle to The Salvation Army.
Thank you for considering The Salvation Army CAR DONATION PROGRAM as the recipient of your vehicle donation. When you donate your car, boat, motorcycle, truck or RV to The Salvation Army, you're helping us heal broken lives and assist individuals on the road to recovery. Your used vehicle will help change the road ahead for someone who’s lost direction. Proceeds from the sale of your donated automobile are used to help fund The Salvation Army's rehabilitation programs in your area.

Donate your Car - Free Call • Free Towing • Tax Deduction

Please call 1-800-SA-TRUCK (728-7825) and we’ll pick up your car, boat, truck, motorcycle or RV at absolutely no charge and provide you with an IRS-approved receipt for your donation. After receiving your information, we will call you within 3 business days to provide you with the stock number assigned to your donation and to arrange for a pick-up time. Your tax deductible receipt will be provided at the time of pick-up and additional information will be mailed after your vehicle has been sold.

 

How Do I Get My Car Donation Tax Deduction?

If your vehicle is operable, it will be auctioned at the monthly Salvation Army online auction. It typically results in a much higher sale price for vehicles compared to sales at conventional car auctions. The price it sells for at auction will determine the amount of your tax deduction, according to new IRS rules. The Salvation Army will mail you the information for your tax records within 30 days of the sale. If your vehicle is not operable, the Salvation Army will make arrangements to pick up the vehicle and you will receive the information for your tax records within 30 days of its salvage.

Make Monthly Donation to the Red Cross

Now there’s a way you can help save the day, every day for the families in need after disasters and emergencies. By making a monthly contribution, you can become a Red Cross Champion. Our Champions are a special, dedicated group who provide a steady stream of funding for critical response and relief efforts year round. Our monthly Champions make our work possible.
Monthly giving is also the most convenient and efficient way to provide help where the need is greatest.
You can commit to a regular donation automatically deducted from your credit card or bank account. You can change this recurring donation at any time when you create an account.
Become a monthly donor today and make a real difference to those in need.
 

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