If someone tells you donating just comes to them easily who have a lot of money, then do not believe them. Charity or donating something comes easily to those too who have a junk car. Yes. Having a junk car is enough if you want to donate it for a good cause like changing the life of many homeless and underprivileged children who are deprived of the basic necessities of life. The question that most of the time crops up is where to donate the car to if one really has a spare to give away to? The answer is simple. Donate your car New York to organizations that are IRS recognized or 501(c) [3] classified. When a car is donated to such an organization, there comes a guarantee with it that your car donation would reach the correct place. Also, by donating a vehicle to IRS recognized organizations means that the car donor is entitled to something in return and this return is priceless to every US citizen who pays tax on time. The non-profit organizations give the return in the form of tax deductibles to the car owners.
Now, how is this determined? How much do you really get back that you can think of being a part of the car donation mission? This definitely depends on the Fair Market Value of your car. According to the IRS, car owners can claim tax deductibles on the donated car for the lower of the FMV or $500, or the selling price at auction if the amount should exceed $500. If the donation is among the donations valued above $500, all the necessary documents are provided to document larger donations.
The money received from the donated vehicles are all channelized to fund hot meal programs, educational scholarships, replenishing school book inventories and sending kids to summer camp. Thus, with a car donated to charity, one can be assured of being a part of a noble cause. But there are some factors determining whether your donation would be for a good cause or not. Though one can be sure that the car donation is made to the correct organization, there are still chances of falling prey to organizations that claim to be charitable but in reality are not.
So what are the factors that should be kept in mind? The following tips might help.
Find The Right Charity To Donate Your Car New York - Not all charities that one comes across in New York will accept a vehicle donation. That is why the correct non-profit organization has to be found which does and then the vehicle donated to the same.
Opt For Direct Donations and Not Through a Middleman- In the first instance it might seem to be a good idea to donate your car New York through another non-profit agency. But doing that might mean that you are inviting trouble for yourself. There is a catch in the offers that some so called charitable organizations make. These organizations often keep a certain percentage of the fund and a major part of it often does not reach the right hands so that the purpose of donation might get served.
Choose To Donate Car To Charity That Offers Tax Deductions- If you want your car donation to earn you tax deductions, then ensure that it is IRS approved 501(c)(3) organization. If not, then you are not eligible to claim a tax deduction.
Make Sure That The Title Papers Are In Place- Generally, the only thing that one needs to make the car donation successful are the Title papers to the car. If those are in place, then the donation is completed successfully. If not, then one needs to talk to the organization and find out whether they can take care of it or not.
Check Whether All The Papers For Documenting Larger Projects Are Accounted For- If a donated car is sold at more than $500, the car owner needs all the proper documents for documenting the donation. The car owner would also need a proof of the car donation and a copy of the transfer of the title.
The car donation process is not cumbersome in itself. Once you have made up your mind to donate car to charity, you just need to find an organization that accepts vehicle donation. In most of the cases, the organization sends over a tow truck to pick up the vehicle from a convenient place and location absolutely without any cost to the car donor. However, the benefits that one reaps out of a car donation is manifold. A child gets to enjoy a good life, the car owner gets rid of the vehicle for a better cause and earns peace of mind as well as tax deductions.
Author Bio: Diyana Lobo is a freelance writer with years of experience in writing on social issues. Her recent write up mentions the tips that you have to keep in mind when you want to donate your car New York.
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