When you have an old rusty car sitting idle in your garage, you often think about the great times you have spent in the car. Maybe a date with your wife, or taking your son to the baseball game. But as the time passes by your old car becomes more of a headache than a nice memory. You are busy. You do not have the time to look for buyers and put it up on an auction. So, finally just to get rd of the car you will either give to the nearby garage, which pay you the least possible resale value or call up the junk car companies who give decent pay back for you old car.
But what if I tell you that you can get rid of your rusty car, get tax deductions and work towards a noble cause.
3 in 1. The answer here is donating your car. One can always think of donating old cars. You get tax deductions for doing this. And it also serves a good cause. Hence, this is a tax deductible donation.
Once you have made up mind to sell you car, you can pick the charitable organisation you want to donate your car. If you are not associated or do not have any idea about such institutions, search about them over the web. You can the list of such charitable organisations. Many of them have 24×7 helplines that clear your queries. After you pick the organisation, give them a call and tell them about your donation. They will pick the car in a day or two, absolutely free of cost. You will not pay even a penny for your car to be towed.
They give you a receipt. This receipt gets you the tax relief.
These donated cars are either sold by the charities or they use it for patients, kids etc. If these cars are used for the latter purpose, then you get tax deductions according to the estimate the car can be sold for. Else if it sold by the charity, then the amount it is sold for will be you tax deduction or 5000$ or which is more. If the car is sold for less than 5000$ , then you do not need any other receipt from the original one. Else if it sold for more than 5000$ , then the organisation will update you on the resale value and will give you the other receipt.
Donating cars is always a great way of getting a tax deduction. You must also know there is no other way to get tax deductions by selling an old car. So isn’t it better, you get rid for your car, get tax relief and do a noble cause.
For ways of donating your car- donate cars
My son, Kyle (now 7 years old) and I have watched Oprah since he was born. I used a lot of her shows to teach my son empathy, gratitude and all sorts of positive emotions. The one episode that comes to mind with my son was an update show in 2006 “Rebuilding After the Tsunami”. There was mention about people needing bicycles to get around the islands. This struck a cord for my young son. He could not believe people did not have bicycles. From that point forward his empathy grew… When he lost his first tooth, at 4 years old in 2008, the tooth fairy brought him and a race car. He told me he wanted to donate the money so that other kids could have bicycles. Moments later, he said he wanted to give his other cars to kids, also. He ended up piling up 150 of cars out of his 200 he had. We contacted his preschool mates and they donated over 50 cars and a large group of books. I took this as an opportunity to contact a friend of mine, Anand, in Kenya. Anand is involved with AVP International, a non profit org which teaches non-violence ways to life. He had a contact, Heidi, that taught in preschools doing the same training. I did some research and found shipping to Kenya with their taxes would not be a good option. So, I contacted Emily at Free The Children to find out the best way to get the cars overseas. She stated all stuff is transported in their luggage. Well, it took about 6 months to find a person to transport it via luggage. This person was John, Anand’s boss. So, in …
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