If we recall the policy about 15 years ago, where people got thousands of dollars in tax deductions from the car or anything they donated, making car activities for charity became popular at the time. However, a huge tax deduction from the donation was finally stopped by the Congress by endorsing the American Jobs Creation Act in 2004, in which cutting restrictions could be obtained from donations worth more than $ 500.
So that the deduction is calculated from the nominal amount received by the charity, and then proved by a receipt from the charity organization to the donor.
With the new law related to the number of tax deductions obtained from donations, it will certainly make you who have never done a donation ask, is it still worth to make a donation in 2018 or not?
Absolutely Yes. Although not as big as before, at least there are still many positive benefits that you give to those who receive your donation. Here I have summarized the 5 best reasons why you should donate a car to charity in 2018.
1. Your vehicle is very beneficial for the operations of a charity.
The car or vehicle that you have donated can be a mode of transportation for them to do other charitable activities such as bringing sick people to the hospital, distributing food to the homeless, and other charitable activities. So indirectly, you also take part in their charity activities. Isn't that fun?
2. Provide additional free space at home.
It sounds trivial, but you will really feel the benefits. Space you previously used to store your car can be used for other important purposes. Who knows you need a new space for family gatherings?
3. Reduce the amount of tax you pay.
Yes, it is undeniable that one of the main goals of donating goods to a charity is tax deduction. So you can save hundreds of dollars from this charity and you can use it for other useful activities. But keep in mind, not all charitable organizations are recognized by the government. You can find the best charity to donate your car, just google it. And make sure you get the handover document after making a donation.
4. No need to be busy to find car buyers.
You only need to find the right charity and let them find buyers for the car. Voila, your car has been sold successfully at a reasonable price (depending on the condition of the car). Besides getting benefits like point #3 above, you have also saved a few dollars because you don't have to rent advertising space in the newspaper.
5. No need to be busy driving a car to the location.
This is also one reason why you have to donate a car to a charitable organization rather than sell it yourself. In addition to saving advertising costs, you also do not bother to drive the car to the location. There are many charities that provide free shuttle facilities, but you must make sure that the service is completely free. Because there are also charities that charge transportation fees on the sale value of the car, even though it is written free pick-up.
Actually, there are a lot of benefits that you and others will get from the contributions you make, but I only write down the most important ones. Do you have a car or valuables that are not used, and want to donate to a charity? Just try searching on the internet with keywords like donate a car in Michigan (change to the location of your city).
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