How to Donate your Car to Charity ?
Car Donation is basically done because people look for an easy and convenient way to get rid of the junk; they have the option to call the people who deal with junk metals but donating to charity is easier and shows your feeling of compassion towards the needy and brings a feeling of satisfaction to your face. Once the car is sent to the organization which deals with broken cars where the broken car is sold and the money acquired by selling the car is sent to the charity. Simple as that!
The process or the steps of donating a car is easy; all you have to do is find a charity where you want to donate the car; watch if there are any tax benefits for the donation you have made. Next, you should look at the value of car, this can be done by “fair market value”; fair market value is the price a buyer is willing to pay and the seller is willing to accept for the car. Look forward to fulfill any responsibilities in the process of donating. Also, as a donor, it is your duty to ask where the car will be used, will the money from the sale will be used inside your community or outside it.
Internal revenue service (IRS) states that if the donor wants to claim a deduction for donating his/her car in the charity, then it should be made clear that the charity is a qualified trust, if not, the donation will not be a tax deductible donation. To make sure that the trust is a qualified one, verification can be done by calling the IRS Customer account services division. Donation tax deductions can be a boon, the donor can enjoy tax advantages of several kinds by just donating fan old car. In fact, donors receive larger reward for donating.