Are you ready to donate your car, then you are at the right place.
There are many benefits and advantages of donating a car, Firstly you get rid of your used and old car from your properties free of charge and giving it to charity is a great service to humanity, and you also get to claim that the car you donated is a form of tax deduction.
In this post, we will be discussing how to start donating a car in California and the requirements to get it done without any stress what so ever.
Submitting an online car donation form should be the first step to take to donate a car in California, you can also call the charity organization you want to donate for but if your donation is a form of tax deduction. You must be sure that the charity is an IRS recognized nonprofit organization.
There are various ways of receiving the tax receipt for the donation, many charity organizations will send the incipient receipt via email, while many others provide you the receipt at the time of pickup.
The incipient receipt will enable you to claim deduction in tax of up to $500, but you should find out with the charity the procedure of providing receipt when you submit your vehicle donation.
Your licence plates should be intact because in most places, the licence plates remain with the vehicle.
If your vehicle is qualified for a fair market value tax deduction then you will be supplied additional tax paperwork after your vehicle is being sold. T
hen you will be allowed to deduct an amount on your taxes though it may vary as it depends on many factors which could include the price the vehicle is sold for or whether the vehicle is classified as a fair market value car donation.
It is important to note that if you have the plan to claim your car donation tax deduction on your 2018 taxes, you have to donate the car before the deadline date. And the vehicle should be with the charity before the end of the year.
Waiting till the last minute could be dangerous as there might be delays that could result in you being unable to claim the donation as a deduction for the current tax year.
If you have issues or complaints or even questions in donating your car, you can contact your local DMV or check their web pages for latest information.