Mother Waddles Car Donations Michigan, Donate, Cars, Vehicles
Protect yourself from future liabilities that could result from a car donation There are some sad cases of people making a car donation and then being held liable when that car was later in an accident. Make sure that the title is transferred properly to the charity. Check with your state's Department of Motor Vehicles about how to do this properly. Never leave a blank space on the title for someone else to fill in. Do not leave the ownership space on the charity car donation papers blank. If the charity asks you to do that, find another organization.
The IRS allows you to take a charitable tax deduction on your federal income tax form equal to the amount the vehicle sells for at auction unless it sells for less than $500. If your vehicle sells for less than $500, you may deduct no more than $500. If your vehicle sells for more than $500, you will need to include the IRS form 1098-C. Vehicles For Charity will supply this documentation after your vehicle sells. We recommend you consult your tax advisor with questions about your deduction. Will I get a tax receipt for my donation?
How do I select a charity to donate my car? Many charities solicit donations of cars. Before donating your car, make sure that the charity is a 501(c)(3) organization and is properly registered with the Attorney General's Charities Bureau. You should also find out what it will do with the car or the money it receives by selling it. Contact the charity to find out how it spends its money. Review the charity's financial reports to see how much of its money is used for charitable programs and how much is used for administrative costs. Financial reports of charities are available on the Attorney General's web site at www.charitiesnys.com
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