You might have a junk car that’s just sitting around. If you don’t have any plans on repairing it, then donating it to a charity can work just as well. Junk car donations are a good way of not only freeing up space in your yard, but it’s also a great way to earn money for your favorite charity. Junk car donations are also tax deductable, saving you money come tax time.
Most people believe that car donations only apply to working, drivable vehicles. While most companies would prefer to deal with working cars, there are many other companies that are willing to accept junk cars. These companies will refurbish these vehicles and sell them for a reasonable price, with most of the proceeds going to various charities.
If you’re ready to donate your junk car, you will first have to find a company that is willing to take junk cars as donations. You can use the phone book to find a number of local charities, or you can go to donationline.com and follow the instructions there. In many cases, the charity will arrange for a tow truck to pick up the car for delivery to the salvage yard, at either no cost to you or for a small fee that covers some of the pickup and delivery costs.
Next, you will have to have the title to the vehicle on hand. If you don’t have a clear title to the vehicle, you may have to file a “lost title” form at the DMV and wait for the clear replacement title. You will have to sign the title over when the tow truck arrives to pick up the junk car; otherwise the vehicle cannot be donated.
After the car is taken to the salvage yard, you will receive your tax deduction receipt. Keep in mind that it could take up to 8 weeks for some organizations to send this receipt to you, as they need time to assess the worth of the junk car that was donated. The organization will then send the money to the specified charity; the charity in question will then send you the tax deduction receipt.
You can write off almost any donation on your taxes. Junk car donation is also something that you can write off.
Here's a place that will pick up your car for donation: http://www.donateacar2charity.com/losangeles-car-donation-information.php . They accept cars in any condition, even junkers.
Car Angel (carangel.com) will do this anywhere in the country.
You can still get a tax deduction for the donation of your old car. You will receive a deduction that equals the actual fair market value of the vehicle, and you cannot automatically receive the maximum allowance.
You can donate a car to charity by checking with various local charities such as the Salvation Army, Goodwille, or Mel Trotter minisitires
With the economy still lagging, individuals are looking for ways to reap some tax benefits. There are many avenues out there that you can use to derive some tax breaks, and one of the best is junk car donation. This is how charities make a significant portion of their operating revenue, and the government has even stepped in to create some incentives for people to donate. When you go choose junk car donation, you can write off the sale amount of the vehicle on your taxes, which could mean huge savings for people who have the ability to move down in tax bracket as a result of the donation. The nice thing about junk car donation is that when you decide to donate, the charity that you use will take care of all of the details. They will come to your home and pick up the car, meaning that you won’t have to ever lift a finger to get it off of your lot. For folks who have old clunkers sitting out in the front yard, this makes a lot of sense. Even if the vehicle will not be sold for that much money, it will helps you financially and saves you the space when compared to that vehicle sitting in your yard. You’ll write off the sale amount that results from that junk car donation, which will help you handle the difficulties of the current economic situation. Additionally, your vehicle will likely be sold for more by the charity than you could get on your own. This is because people who buy vehicles from charities don’t mind paying a higher price, since they are helping a good cause. In the end, junk car donation will take all of the hard work of cleaning up the car, transporting the car, and finding a seller, and it will provide you with immediate tax benefits in a difficult economy. On top of that, you will be helping out the charity of your choice in a big way. That provides some value, as well, making junk car donation an absolute no-brainer decision for any person that has an old clunker sitting on the lot.
Most charities will try to sell a car to individuals rather than selling it for junk. However it's difficult to know what which charity in your area will sell you a vehicle without having your location.
There are many different places to donate your unwanted junk vehicle. Organizations such as Donation Line, which can be found at donationline.com, will take a junk car almost anywhere in the United States. You will need to be ready to fill out a form online or to call the number listed on the website. This is done at no cost to you and you be able to choose the charity or organization in which to donate your vehicle to. After the vehicle is towed you are then able to receive a tax deduction for your donation.
Many charities do welcome and accept junk cars as a donation. They take the car and use the parts, or salvage the car for cash, for the charity. You can find a listing of junk cars for charity in your area online at www.donationline.com/auto-salvage.htm. The most notable charity that accepts junk cars is Goodwill. Goodwill, and most of the charities that accept junk cars, will set up a time and have a towing service (which donates its time) pick your junk car up. These charities also accept drivable, or almost drivable, new and used cars for charity. Whatever type of car you decide to donate, ask for a donation receipt, you can claim it on y our next tax return.
Yes you can and you will also be able to receive a tax credit for your donation. Call Junk Car Donations in Chicago to arrange details at (888) 524-7990.
Car Talk Vehicle Donation Program is one of the more popular car donation program.
There is no such thing as a tax credit for a car donation http://www.givecars.com/car-donation-claims.html