Looking For A Good Tax Break? Donate Your Car To Charity
Alright, that old rattletrap, rusting buggy still masquerading as a car has been taking up space in your driveway for much too long. Its become part of the neighborhood landscape. Youve been able to overlook it, but your neighbors are growing a little upset. Youve bitten the bullet and realize the time has come to get rid of it, but how?
Why not contact a charity to see if they are interested taking the car as a donation? Not only is giving your car away to a charity good for deposit in your karma bank, when tax time rolls around, that donation can help keep some of your cold hard cash in the bank as well by allowing you to take a potentially sizable deduction. If you ask around, youll find numerous charities that have established programs for taking vehicles as donations.
As you might expect with the IRS, there are some tricky rules. Giving a car away to charity for a tax break is not as easy as it used to be. The old tax laws allowed you to write off the fair market value of any car given to charity. Fair market value was determined by auto industry standard evaluation services, like the Kelly...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
