Times are tough, and for those of us with the comfort of commodities like a home and an automobile, it can become easy to forget how much worse it gets than our own situation. To punctuate this point somewhat, consider that you have the fortune of reading these words, thanks to the electricity you have, the room you’re sheltered within, and the computer you’ve a privilege to use.
Now, think of the ones who are starving in one of the many foreign countries whose governments can’t afford to feed their citizens, can’t afford to assist their starving people with housing, and can’t afford to seek assistance from other nations within their region. Then, think of all of those who are actually here in this country who are experiencing something similar in their own lives, due to the hardships and trials of living in an era that’s as radically different from the last 50 years as it’s ever been.
In the face of all this, Donate For Charity, Inc., a Non-Profit Organization with a focus on collecting donations for the unfortunate, offers a unique incentive to those who’ve considered donating an automobile the purpose of aiding a particular charity.
Thanks to the services of Donate For Charity, Inc., it’s easier than ever to donate your car for the purpose of helping someone less fortunate. In this sense, a used car donation can go a world’s worth of length further in the effort to aide the homeless, hungry and sickened in the world than a drop of change in a bucket will ever accomplish.
All proceeds from vehicles donated to Donate for Charity, Inc., go to benefit a wealth of charities who assert their efforts for the most pressing and influential issues influencing our society today, including the sickness and well-being of those we intend our donations to benefit. Recently, Donate for Charity, Inc., announced an initiative to allow donating parties to specify directly that they’d like to donate a car to breast cancer research funding, one of many services in a long list of those that their organization hands your donations to.
Laws in 2005 changed in regards to how donations are handled in terms of taxpayer benefit. Thanks to new tax guidelines instated as of January 2005, the IRS allows donating parties to deduct the full price that Donate For Charity, Inc. receives for your vehicle. No longer will you be required to do the guesswork in figuring out how much your aged vehicle is worth, estimating a fair market value and hopefully avoiding any complication in filing.
Excerpts from IRS publication 4302, titled “A Charity’s Guide to Car Donations,” read as follows.
“If a charity intends to make significant intervening use of or materially improve the car, the donor generally can deduct its fair market value.
“Significant intervening use means that a charity must actually use the car to substantially further its regularly conducted activities, and the use must be considerable. There is no significant intervening use if the charity’s use is incidental or not intended at the time of the contribution.
“Material improvement includes a major repair or improvement that results in a significant increase in the car’s value. Cleaning, minor repairs, and routine maintenance are not material improvements.
“The charity must provide the donor with a contemporaneous written acknowledgement of the donation. Without an acknowledgement, the donor cannot deduct the contribution.
(end of excerpt from IRS publication 4302, A Charity’s Guide to Car Donations)
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