Donating to a charity is a worthy cause, and donating a car is worthier still. When you donate junk cars to a charity, you are helping someone directly with your generosity. This how-to guide by LA Junk Car Systems will tell you the necessary facts regarding how to donate junk cars to a charity of your choice.
Make sure that the Car is usable Just because the car is junk does not mean that it should not be usable. In many cases, charities will sell your junk cars to raise cash for their expenses, in other cases, they may continue to use the donated vehicle. In either case, make sure that you get your car in a state where it is not entirely junk.
Get Tax Deductions
Just like any other donation, the gift of a car to properly registered charity will entitle you to get a tax deduction from your government tax agency, such as IRS in the USA. When you select the charity, make sure that the charity is registered, so that you can get your tax deduction.
Car donation comes under non-cash, which for IRS requires filling the section A or B of tax form 8283. You have to fill section A if the value of your junk car is more than $500 but less than $5000, and part B if it is more than $5000.
How to Know the Value of your Car
You can check the value of your junk car on online appraisal sites such as Kelley Blue Book available at www.kbb.com. Another popular service for junk car appraisal is Black Book USA at www.blackbookusa.com. Donate to a Charity of your ChoiceTo get the most bang for your donation, make sure that you give to a worthy and needy charity.
www.donationline.com is the premier sites to find out about such donating cars for Americans. The site makes sure that all the 400+ charities available stand as 501-C3 non-profit charities, which ensures that you get a tax deduction when you donate junk cars.
If you use some other service to choose the charity of your choice, make sure that the charity in question is a non-profit charity with tax status 501-C3 or the appropriate governing tax status of your country. Deliver the car yourselfOnce you have selected the charity; it is a good idea to take another charitable step and make sure that the charity gets your car without having to pay for its delivery. To this end, you can either deliver the vehicle yourself or pay for the cost of the delivery. Because this is also a form of non-cash charity, you can get a tax deduction on this service too.
Keep the Receipts When you donate junk cars, and file for tax donation for that year, you should keep all the records about the transaction for later review. When the charity sells the car for its cash value, and receives more than $500 for it, it must tell you the selling price of the car for your reference. You will then get a tax deduction on that sale price of the car. You must keep that receipt too, along with other records of the transaction.
As someone who wants to donate to charity, you are already on the right path of public service. With these tips, I hope your path is made even easier.
In certain cultures, the term “salvage” usually refers to the act of carrying out of a death penalty against a convicted criminal. This seems rather absurd to most people as the same term carries a different meaning in other places. As such, anyone conducting a simple search on the internet should consider typing in “car salvaging” if they want to learn more about how old and junk automobiles are handled and not about criminals being put to death!
Sometimes, it can be quite hard to fully understand how automobiles are salvaged; however, it will pay off to understand the different techniques used during this process. Some consult with local junk dealers like Junk Cars Pro to find out how much they’ll receive for a given car. However, that is not the only available option. You could also opt to get in touch with a local car removal business and request for a quote from them.
However, it makes more sense to call a removal company that specializes in the removal of old and junk vehicles. Why? Because at the end of the day, you will not be required to do a thing. All that’s required from you is to contact the company, sit back and wait for the company to come to you for your car. If they decide to take it, they pay you and take the vehicle with them. Such companies handle all additional expenses that are involved in disposing non-functioning vehicles or clearing the car’s title. Honestly, of all car salvaging/removal options available, this option is the simplest of them all and should simplify things for you.
Of course, there are a couple of important steps that you will be required to perform before selling a junk or old car. If you want to get the most accurate estimate for your car, it is important that you describe it (your car) to the salvaging firm in great detail. Failing to be forthright with the details about your car and its condition could lead to you getting lesser money than you had expected. At the same time, you’ll it is important that you clear the vehicle of any personal items that you would love to save, including registration and insurance paperwork, personal identifications, and any other thing that may have fallen beneath the vehicle’s seats.