Friday, 11 October 2013

Finger Tip Points on Car Donation (2) By Dave Markel



PRE- CAR DONATION POINTS
* How will you get in touch with the charity organization for your car donation,
* The authenticity of the charity institution,
* Check whether the charity body is registered with the proper government body,
* All the terms and conditions of the charity to avoid any inconvenience in future,

* Make sure you know where and to whom the proceeds of your charity goes to,
* Classify your vehicle donation that is whether your vehicle is in working condition, not working or belong to scrap category,
* Do not forget to research the fair market value of your vehicle you plan to donate.
POST CAR DONATION POINTS
Before taking a breather be sure you tick mark the post car donation points. Like there are certain post donation necessities so that you qualify for tax benefits or reductions,
* Make sure you obtain a written certificate of your car donations sale by the charity.
* Whether your car donation value stands more or less than $500 because your tax deductions over the mentioned amount are restricted to the actual sale figure of the automobile.
* Also research on the actual amount of money going to the worthy poor people apart from expenses relating to administration, auction process, etc.
Thus, the above discussed simple points help you to go through the car donation process with ease and required caution after all it matters to both the donor and the receiver.

 

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