Donating your Car? Calculate Tax Deduction Benefits
Donating your vehicle and confused about tax benefit calculation?
Here is the deal;
Learn to calculate your tax write-off benefit!
Your car donation also gives you tax deduction benefits. Learn to calculate your tax benefits while donating your car, van, truck or any other vehicle and donate it with confidence.
Car donation is the greatest charity you may consider that will suffice for your lifetime, at the same time you can also claim the maximum possible tax deduction for donating your car.
How to Donate a Car for Tax Credit
To donate your car for the maximum tax credit you need to follow certain simple steps. It was complicated before 2005; Thanks to the new tax law that started affecting after 2005.
IRS, now made it easier to calculate your car value. Prior to 2005, tax deduction benefits were dependent on values of an inflated book. As per this rule, your car value is likely to get lesser and lesser as the car gets older.
- We made this process a breeze to get the max possible tax benefit of your car donation. Call us now or leave us a message through an online form and we’ll handle rest of the things.
- Your truck, car or any other vehicle will be professionally picked up and will be donated to your preferred charity/cause then we help a charity to sell it at public auction.
- You’ll receive a receipt for your car donation.
Car Valuation/ Tax Calculator Resources
Here are some resources to evaluate your used car value.
Kelley Blue Book – www.kbb.com
Edmunds – www.edmunds.com
NADA Guides – www.nadaguides.com
Tax Benefit of Donating a Car – Useful Resources
- IRS.gov Publication 526, Cat. No. 15050A – Charitable Contributions for use in preparing 2016 Returns
- IRS.gov Form 8283 – Non-cash Charitable Contributions – Attach to your tax return if you claimed a deduction of over $500
This resource provides a great deal of information but not suggested to replace professional advise on tax deduction. This won’t include legal, accounting or tax advice.
If you need more legal help we will add some good resources below. Come to check them.