A Common Car Donation Question
Nov 14th, 2005What is the most common question that we are asked about car donations? The question that wins the prize for being the most popular ;-) is : "Can you pick up my car even if it's not running?"
The answer to this question is also simple: We can! The only thing that would prevent us from being able to pick up a donated vehicle is if the tow charges that we would need to pay to get the car picked up would be more than the value of the donated vehicle. We often pick up non-running vehicles, even vehicles that have been wrecked or totaled -- as these vehicles still have value for parts or salvage.
So if you have a car, truck or other vehicle that isn't running or needs expensive repair -- why don't you consider donating your vehicle to charity? You will get the car towed at no cost to you, and we will take care of all the necessary paperwork for you. It's easy, it's fast and it's free! And you will be able to claim a tax deduction for your donation as well! And the best thing is that you know your vehicle donation is going to a good cause and is going to make a difference in someone's life!
Fair Market Value Deduction
May 25th, 2005Question: Can I deduct the fair market value when I donate my car to charity? I want to donate my 1996 Plymouth Grand Voyager with 100,000 miles and it's in pretty good shape -- why can't I get the fair market value deduction on it?
Answer: The IRS is still making decisions on some of the provisions associated with the new tax legislation that came into effect on January 1st, 2005. But the law now states that you can only deduct up to $500 for a donated car or the sale value of the vehicle if it sells for more than $500. There are only two exceptions to this rule:
1) If the charity you donate your car to will use the vehicle for their charitable purpose you could claim a deduction for the full fair market value.
or
2) If the charity makes significant repairs before selling the vehicle. Again you could claim the full fair market value.



