Donations 

How Do Tax Deductions Work When Donating a Car?

Donating your car to charity can result in significant tax savings if you include it in your charitable contribution deduction. However, doing a little planning will ensure that you maximize the tax savings of your donation. The Internal Revenue Service (IRS) requires you to calculate your deduction in one of two ways, depending on how the charity uses your donation. Deductions for cars the charity sells are limited to the sales price. In all other cases, you can use the car’s fair market value. Step 1: Find out how much…

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Donations 

Benefits of Donating a Car to Charity

Whether it’s because you’ve upgraded to a new car, your household needs have changed, or you’ve been meaning to make that clunker in the driveway a weekend project but haven’t found the time, when you have a vehicle to get rid of, consider making a charity car donation! Believe it or not, donating a car or truck is about more than kindness. While donating a car to charity will certainly help local individuals in your community, it will also do more than that — it will help you, too! Think…

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