Car Donations: Tax Benefits You May Not Know Exist

Posted on Thursday 26 November 2009

Have you been thinking about getting rid of an old car? If you don’t think it will be worthwhile to trade it in, consider car donations. Tax benefits may be available if you are willing to sign your car over to a registered charity instead of trading it in or letting it sit in your driveway.

Take for example someone who decides to donate a car in Utah. If they take the time and locate a recognized charity through the internet or other research, they can receive a receipt that can help them lower their income tax.

There are a number of charities that can benefit from a used vehicle. Take the National Kidney Foundation of Utah and Idaho. This is an organization which uses money from donated vehicles to help people in your area. The money they raise goes to help local people who are living with the realities of kidney disease. They help both kidney patients and dialysis patients and use the money to support kidney research and promote organ donation for people in need. This is just one of many important charities that are operating across the United States.

All you need to do is make sure that the charity you are dealing with has a 509(a) designation from the IRS. A charity that can offer you a tax receipt will use the Blue Book value of the car to determine its worth and issue you a receipt based on that information. By working with an online car donation service you may not even need to worry about delivering the vehicle and all arrangements can be made quickly and easily.

In today’s world, there are more people in need than ever before. Finding ways to help them, such as donating a used vehicle that you may otherwise just send to a wrecker or allow it to rust away can be a wonderful way to help the people around you.


1 Comment for 'Car Donations: Tax Benefits You May Not Know Exist'

  1.  
    December 2, 2009 | 1:57 am
     

    [...] Helping America « Car Donations: Tax Benefits You May Not Know Exist How Choosing To Donate A Car To The NPR Can Benefit [...]

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