Steps to Follow in Choosing Car Donation Services
One of the ways in which you can help an organization is by giving your car for charity. Donating your car is considered a cost effective way of giving your car to charity. As much as it is vital to give your car to charity, you need to be cautious in the process since the industry is full of fraud activities. Many companies have registered car donation services which are full of false advertising and self-dealing. Car owners wishing to give their vehicles for charity need to ensure that the organizations they are working with is legit. Choosing car donation services can be hectic, however, by following these tips, you can find out more here about choosing the right organizations that will best meet your needs
One of the ways on which car owners can ensure that they are partnering with the right charity organizations is by researching on them. The charity needs to have a 501(c)(3) non-profit status with the IRS. When the organization does not have the status, it means that it is not a charity and that your donation is not tax-deductible.
People who want to give their car to donations need to look for efficient charities. The market is flooded with many charity organizations. However, to ensure that you are getting the right one, look for those that have been evaluated by an organization that monitors the operations of charities and rate them for efficiency.
In addition to working with the right charity, you need to itemize your donation on your returns. The beauty of itemizing your deduction is that you will take a tax deduction for your donation. The process of getting a claims is guided by rules which you need to observed. According to the rules, taxpayers are allowed to deduct the full market value of a donated car under three main circumstances. One of the conditions include the charity must be using the vehicle in its operations. In addition, the charity organization you want to work with needs to improve the condition of the car to sell or use it. Another instance in which you can get the full market value of the donated car is when the charity organization donates or sells it to a needy person for below market value. In the event your situation is not among the stated circumstances, the amount you will get is that which the charity will get from the sale of the car. Car donation is vital since it helps many organizations such as Rawhide Youth Services.
Before you can donate your car, make sure that the charity is licensed. The beauty of checking if the charity you want to partner with is licensed is that you will know if the charity is legit or not.