donate your car

Before one side of your greatest assets for more than one person, and read the following tips to ensure that you make the right choice.
1. Avoid middlemen. Many intermediary organizations profit heavily advertised on television, billboards and others offering to help you donate your car to charity. The secret is: These organizations typically keep about 50 percent to 90 percent of the value of the car for themselves, and the charities do not receive what can be achieved. To avoid this, check directly with charities you admire and see if they accept donations of car or boat.
2. Find a worthy charity. If you support charities are generally not equipped to accept such donations, do some homework to find a charity that is trustworthy. You can search the online registration of charities on this site the Better Business Bureau and Charity Navigator.
3. Check the math. If you still feel compelled to use the argument - perhaps because you're busy - at least ask how the body of the car or the value of the boat will go to charity. If the organization simply gives charities a fixed fee - say, $ 100 for the car, regardless of its value, or $ 2,000 per month - your donation may not be eligible for a tax deduction.
4. Know the status of beneficiaries. To qualify for a rebate, a charity that gets your donation must be (3) organization approved by the IRS 501 (c). Qualifies likely that your church, synagogue, mosque or temple. (Check first just to be sure.) You can also visit the website of the Internal Revenue Service and search for publication 78 to find other qualifying non-profit organizations. (Just type "78" in the search field on the IRS home and you will be redirected to the deployment right page.)
5. Get delivery. Once you've identified a worthy charity, recognize that they have to pay someone to pick up your car or boat for you. Charity to help maximize the benefit of your donation, drop the car or boat off yourself.
6. Transfer the vehicle with care. Want to get rid of all the risk of running out parking tickets and other violations after you've said goodbye to your donated vehicle? Then officially re-title the car to charity, and to account for the transfer to the Ministry of Foreign Affairs of your car or license. Never agree to leave the property space on white charitable books.
7. Your estimate of the value of this gift will probably not cut it. If your car or boat is worth more than $ 500, the IRS will want to see evidence of how the charity for her. (Most charities that accept these donations turn around and sell them for money.) You will need to get a receipt from the charity revealing exactly how much money you made.
8. Know when you can report the fair market value. You do not need proof of the purchase price if the charity keeps the car or boat used in charitable work, or if your donation is worth less than $ 500. Then, you can report the fair market value on the basis of lists of Kelley Blue Book and similar sources.
9. Keep a complete record. If your donation is worth over $ 500, you must attach IRS Form 8283 to your return. If it is more than $ 5000, you must include the documentation to evaluate outside. You must also have proof of gift as an acknowledgment of the charity and a copy of his change of address.
10. Be the attention to detail. The paper trail may seem cumbersome, but think about it: This is perhaps one of the greatest gifts you than ever. By taking the time to put points on the letters i, you can be sure that the charity receives the most benefit and you get the greatest possible reduction.