While you are trimming the tree; don’t forget about trimming your taxes too, since the end of the year is rapidly approaching. Be sure to get in your end of year tax deductions while you still can; so you can ensure you save on your taxes with every donation you make, such as a car donation tax credit.
There’s still plenty of time for you to donate a vehicle for your end of year tax deduction or make a monetary donation to 1-800-Charity Cars. Car donations through our program are very easy. To donate a vehicle (car, truck, RV, boat, or plane) in any condition, running or not – with free towing provided nationwide, just give us a call at 1-800-CHARITY (1-800-242-7489 x 2) or visit our simple online donation form. To make monetary donations, you can utilize our online donation services through JustGive or PayPal found at www.800charitycars.org.
If you donate a car and the vehicle is provided to a struggling family, then you are able to deduct the full “fair market value” of your vehicle donation from your end of year tax deduction. If the donated vehicle is not provided to a person in need and is sold, then you may deduct up to $500 or more if the sale of the vehicle exceeds $500, according to the IRS donors guide to vehicle donations. You can also deduct monetary donations in accordance with the IRS guidelines by filling out necessary forms where required for a certain dollar amount of your donation.
Itemized deductions are filed on Form 1040, Schedule A and in some instances you are required to file Form 8283, for your charitable contributions. Be sure to verify with the IRS what forms you need to file and what documentation is required, to ensure your charitable contributions are correctly filed and subsequently reflected on your end of year tax deduction. You can find more of this information at http://www.irs.gov/taxtopics/tc506.html. Also, don’t forget to read 5 Most Commonly Forgotten Tax Deductions to make sure you don’t miss one!
You will not only get a better end of year tax deduction but you can help change the lives of struggling families in need by making a monetary donation or car donation to 1-800-Charity Cars today. It is through the generous charitable giving of car donations and monetary donations, from people like you, that has allowed us to transform the lives of thousands of families in need and get them back on the road to independence. You can read about how your donations have made a difference through statements made by past recipients. Thank you to everyone who has and will get their 2013 tax deduction by donating to our organization this year and helping us continue our mission to engage in activities that uplift humanity.