Making Sure Your Car Donation Is Tax Deductible
Many people do not realize that charity car donation is an option they have when they want to get rid of an old car. You will be able to use your donation as a tax write off as long as you get a receipt confirming you have indeed given to charity car donation. There are many organizations that will be happy to take your car off of your hands.
If you're married, the IRS gives you a standard deduction of more than $10,000 each year. And all this means is that you only get a tax deduction when your mortgage and all local state income taxes exceed $10,000. So for most Americans they don't qualify for this as they don't exceed this limit.
This is true when your vehicle is given to a disadvantaged family that will benefit greatly. Many people can be down on their luck for a number of reasons, you can feel good about giving someone a head start when they want to change their lives for the better.
The second reason is conversion. Ask the mainstream car donation charities how much of money they get from the donation reaches the needy. You will be surprised with the % figure you get. Not their fault, and they may not misuse it, but it take a lot of effort to convert your junk into cash. Look at goodwill free cars on program efficiency. You will be surprised that most car charities operate at an efficiency of less than 50% Recently I read a news article about a charity here in my city, which spent 70% of the money in their call center operations alone. And think about their infrastructure required to take possession of the junk you are delivering, (towing) inspect it and sell it.
I have, and let me tell you right straight out. The things I saw as well as received were not in any way given as though they were being given to Christ in most cases. I have received true Christian charity, charity that was given as though they were giving it directly to Jesus him self, But this was rare. And only one instance was from a Christian Church, all the others were from those that Christianity would condemn as unworthy of Christ.
When it comes to health care, more than a few politicians have crashed and burned. The issue is complex and expensive. There are no clean, clear answers. Throw in issues of political compromise and lobbying by medical groups and the picture gets much murkier. With incredibly low popularity numbers, President Bush apparently feels now is the time to swing for the fences. Yep, he is going to enter the health care fray with his own plan.
The easiest way to find a car donation center is by searching online. All you need to do is open up any search engine and type in the words charity car donation. You will be directed to many different websites that will accept your vehicle as a donation. In fact, you may even be able to find a site that will do all the work for you.
Some charities you may to think are; local food pantry or food bank. You will realize that your old car is doing something good for somebody who needs help. It gives you a great feeling by helping someone in desperate need.
3) You should also pay attention to the services offered by the nhpr car donation services company. What is the extent of assistance they are able to provide to you? Some companies take care even of handling the repairs of your car so that it will command a higher value when it is sold. Some companies include processing of your IRS requirements. Consider what feature of the service is important to you, and see which company you can get most value out of.
In order to make a monthly mortgage payment you probably are using your retirement dollars to do that. So if your mortgage payments are $1200 a month you probably need to borrow $1800 before tax to pay off your mortgage.