Car donation is not at all a difficult task and absolutely risk free provided that you proceed it correctly. By donating your car, not only can you help the needy children and uplift their living condition but also receive significant value for tax deduction.
The increasing tradition of car donation in New York is something to speculate. By offering your car for charity, you can help a number of kids who are underprivileged. It is not only a money wise idea to donate your car to charity but also a noble gesture to help promote the living condition of the less fortunate children. To ensure smiles on the faces of hundreds of underprivileged children, many non-profit organizations have sprouted all across New York. They are working relentlessly with great conviction to help improve the living condition of these children, organizing hot meal programs, funding educational scholarships, replenishing school book inventories and sending kids to summer camp.
However, don’t hold back your desire and to donate your car just because you have encountered a few problems in the past. Donating a car to charity is in fact a simple process that can have benefits for both you and the charity. However, it is important to be vigilant when donating a car and to make sure that you go about it correctly following the right process. Here are some of the tips that you need to follow in order to make sure that the process goes without a hitch.
Make sure the charity is legitimate:
Life would be so much easier if people could trust each other in the first meeting. Unfortunately, that is not going to happen. There are indeed a whole lot of unscrupulous people in the world. Therefore, it is important to make sure that the charity you are going to participate in is legitimate. Ask for several forms from the organization and other important papers before deciding on the organization. If possible, visit the charity in person and contact the IRS to inquire about the charity’s viability before you donate a car New York. Make sure that the title is signed by the company receiving the vehicle.
Review the Charity’s Financial Report:
You are entitled to review the charity’s financial report. So, don’t hesitate and request for documents to see how much of its money is used for the charitable programs and administrative costs. If you want to receive a valuable tax deduction on your car donation, make sure that your charity is a 501(c)(3) organization or else your contribution will not be tax deductible. Hence, check out the IRS lists and find the reputed organization to avoid car donation scams. A good way to make sure that the charity is legitimate is to check that they have a registered charity ID number.
Estimate the Value of Your Car:
Don’t think too much about the condition of the car whether it is too old or too worn out for the charity to accept as donation. Many charity organizations accept cars irrespective of the conditions and its ages. So before donating your car, make sure that the organization accepts car in any state of repair. And delete those organizations from the checklist that only accept vehicles in certain condition.
A little bit of repair work can do a lot. For you, it might be a junk, for others it could mean the world. So don’t hesitate and donate your car New York to charity. Many charities accept any contributions and turn it into something positive and worthwhile.
Sign the Title Before Donating the Car:
It would be always wise to transfer the title of the donated car. Having an open title for a vehicle is not an illegal thing. However, the owner will be held responsible for the ad valorem tax, registration and licensing fees until and unless the title has been properly closed with the charity being the recipient. There are many fraudster that convinces the victim to turn over the car, without signing the title.
A good rule of thumb is to choose a recognized charity that would entitle you to receive valuable tax deduction on your donation. So look for a major charity otherwise you may risk your car over to the criminals. Research well where to donate car New York and avoid the middlemen for good. Don’t shy away to ask what percentage of charity go directly to the charity and sign the vehicle’s title directly.
Get A Receipt for Your Donation:
Get a receipt for your car donation and keep it with your tax records. You might require it in future. In case, the organization refuses to give you receipt, be alert you might not be at the safe hands.
Simply follow these guidelines and get the maximum benefit from your car donation. The donation process is not at all difficult task provided that you follow the procedure correctly. This way, you can easily avoid the donation scams and get the maximum value for tax deduction on your donation.