Car Donation Q & A – Blog

Why You Should Donate a Car Before New Years

Have you successfully made it through Thanksgiving, Black Friday and Cyber Monday? Gearing up for Christmas and Hanukkah and want to give back to your community? You came to the right place. Donate your vehicle to charity this holiday season! You have until December 31st to donate to receive a tax deduction for your car donation for 2015. You can use this for your tax deduction when you file for taxes in April, 2016. Choose to give back and donate a car to help kids. Even if you have maxed out your money on holiday gifts already, consider giving back in honor of the holiday spirit. Our Foundation helps disadvantaged and at-risk youth, and every car donation helps. You will be overcome with a sense of joy at having given back, you’ll earn a tax benefit, and it will actually help make a difference in the lives of others. In a lot of cases, the money received acts as a life-saver to our children. Whether or not you choose to donate a car individually, or with family members, colleagues, a group, or friends, you will be helping to improve children’s lives. Everybody wants to feel special over the holidays, and donating your car is a great way to help a child and feel great about it yourself. Don’t have a car to donate? There are other ways of giving back. Neshama Foundation accepts cash donations, and everyone is encouraged to give back. Please feel free to donate your time or services too! Get rid of that old car that’s been sitting in your driveway, and make some space for... read more

Car Donation Charity

Car Donation Charity Donate cars for kids and help children with your generosity. Carsgofar is a car donation charity funding various children programs. Charities are usually cash-strapped non-profits that need lots of financial support for the good they do.  Donating your car can be a great way to contribute to the cause. Its a very generous act that will benefit you and others. Before you donate your car, make sure you’ve done the math and that it makes sense for both you and the non-profit car donation charity. Below are some important things to take into consideration and should help you in your process. TAX DEDUCTION: The deduction you can take on your tax return is based on the value of the car. You can start to determine that by visiting Kelley Blue Book, which have excellent used car rating platforms. If you determine that your car is worth $4000, but you know it doesn’t start because it needs a new starter, the fair market value is $4,000 minus the price of replacing the starter and the bother of someone having to get it done. You can learn more about taxes and your donated car by visiting the IRS Tax Deductions & Car Donations handbook. You can generally donate a car, truck, boat, RV and other vehicles. First and foremost, charities should have in place a written donation policy that shows its approach to non-cash charitable donations. Secondly,  the charity should be mindful of the benefits to their donors in order to maximize their potential tax deductions CHOOSING A CAR DONATION CHARITY: The only difficult part is in choosing... read more

How to donate a vehicle

Tips on how to donate a vehicle Car Donation is a fantastic and very exciting way to get a tax break and feel good about helping a charitable cause. The nice thing is that vehicle donation is very easy and convenient. All you have to do is call the charity and let them know that you would like to donate your vehicle. They will send a tow truck to pick it up and a few weeks later you will receive a certified tax receipt. You can then use this receipt to help you deduct the appropriate amount from your taxes. The amount of your tax write off simply depends on how much the car sells for. If the car sells for over $500 then you will be able to write off that amount. If the car sells for less than $500 then you will be able to write off up to $500. Pretty nifty right? A few things to remember when donating: 1. Always check to make sure the charity is a 501(C)3 non-profit. 2. Make sure you have the Title to the car. If you don’t you can get a new one from the DMV. Some states actually don’t require it if the car is older than 15 years. 3. If you are donating a vehicle that is not yours. i.e.: your deceased parents or spouse, make sure you have the proper paper work in hand such as a letter of attorney or right of survivorship papers. The charity can help you with this. Its not always necessary. Ok, now you’re all set the only thing left to... read more

Information About The Neshama Foundation

Learn About The Neshama Foundation Car Donation In this article you will learn more about The Neshama Foundation, a non-profit organization dedicated to providing support to children’s charities in Israel. Learn about the different ways you can donate to this amazing organization and make the difference in the life of a child. If you are in the market to find a charity to get involved with, look no farther than The Neshama Foundation. Neshama is a non-profit organization that is dedicated to providing support to charities in Israel. They fundraise in the United States and provides 100% of the donations that provide support for Israeli children. The Neshama Foundation funds educational, developmental, and recreational programs and works to restore the light of childhood to children with challenges. Their goal is to provide funding to support charities that help children shine and find strength when needed to overcome disparities. They provide children and their families with a strong network of personal guidance and educational resources, individualized to their needs. Their overall areas of activity consist of educational programming, school placement, tuition assistance, mentorship programs, cultural activities, weekend retreats, summer camps, recreation and guidance counseling. One of the most appealing things about Neshama is the variety of donations you can make. They accept car, cellphones, furniture and clothing or cash donations. Donating a car to charity is a great way to rid your driveway of an unused vehicle, plus you are clearing the clutter around your home. There’s no need to accumulate cars that could be donated to charity. Donating your car results in receiving tax benefits. It reduces the taxes... read more

Car Donation Schedule A

Learn about Car Donation Schedule A This article discusses Schedule A and what goes into preparing the schedule. It also compares Schedule A and standard deduction and discusses the benefits of each option. By definition Schedule A is a U.S income tax form used by taxpayers to report itemized deductions. It can be used to help reduce an individual’s federal tax liability. When you decide to donate to a charity you can write off the amount you have donated on your tax returns. The amount varies depending on your filing status. If you have significant deductible expenses which are greater than your standard deduction, you itemize these by reporting the expenses on Schedule A. Schedule A is required if you choose to itemize your deductions. There are seven categories of expenses medical and dental expenses, state, local, real estate and personal property taxes, home mortgages interest and PMI, charitable donations and gifts, casualty or theft losses and employee expenses which haven’t been reimbursed. For every category there are different requirements and limitations on the amount you can deduct. When it comes to preparing the Schedule A it’s most important to see that your are eligible to claim these items or expenses. It’s very possible that you have many deductions in many different categories, however having just one deductible expense may be sufficient enough. When you are done filling and applying the specific limitation, you then transfer your total deduction to Form 1040. A great resource is using TurboTax. When using Schedule A to itemize your deductions, you are allowed to claim a number of personal expenses. However, by using... read more

How Do I Claim Tax Deductions?

How do I claim tax  deductions for car donation or other items In this article you will learn about the steps of claiming your deduction. You will also learn more about itemizing and if it’s worth it. Here is a list of expenses the IRS allows you to deduct: preventive care, treatment, surgeries, visits to psychologists and psychiatrists. Prescription medications and appliances such as glasses, contacts, false teeth and hearing aids and dental and vision care qualify as medical expenses. If you are reimbursed for a medical expense by your insurance or employer it can’t be deducted. Medications, for example non-prescription drugs, other purchases for general health such as toothpaste, health club dues, vitamins or diet food and non-prescription nicotine products can’t be deducted. The first step to claiming these medical expenses deduction is itemizing your deductions. Should you itemize? By itemizing you will be giving up standard deduction. It’s important to make sure after adding up your itemized deduction this total is greater than your standard deduction for your filing status. The benefit of itemizing is that it allows you to claim a larger deduction than standard deduction would allow you to claim. By electing to itemize you must use an IRS Form 1040 to file your taxes. The steps of going about this are: On Schedule A line one, report the total medical expenses you paid for that calendar year, on line two your adjusted gross income, on line three enter 10% of your adjusted gross income and on line four the difference between your expenses and 10% of your adjusted gross income. Line four’s amount will... read more

Kelley Blue Book Donation FMV – Most Accurate Vehicle Values

Using Kelley Blue Book (KBB) to determine fair value for your car donation Kelley Blue Books remains one of the leading ways to determine the price of your car. Learn more about the history behind KBB and the modern advances they have made, including a website, making their predictions even more accurate. When you are thinking about selling your car or donating it to a charity the best resource to determine its Fair Market Value is Kelley’s Blue Book. Kelley’s Blue Book is the number one leading tool out there when it comes to selling your used vehicle. First published in 1926 by company founder Les Kelley, the book is named after The Social Registry, a book that listed the names of local movers and shakers commonly referred to as the “blue book.”Over the years, it has become a trusted source of information in the automotive industry. This book can be used as a reference for obtaining important information on new and used cars as well as motorcycles and recreational vehicles. It’s especially useful to determine a fair price on a vehicle. The online experience allows for more accurate information and values, as it is updated on a weekly basis.If you’re looking at a new car, just go to the website and select the manufacturer, make, and body type of the car. From there the website will ask you about your desired body trim and model year. In addition it will ask for your zip code. The it will show pictures of your selection and tell you what’s new for this year. It makes the whole process quick and... read more

Why donate a car?

Why donate a car is more popular? Why donate a car or any other vehicle? Overtime Car donations have become a popular way to donate to charities. In this article you will learn about how car donations work and why this has become a popular alternative way to give to a charity. By definition, car donation is the practice of giving away no-longer-wanted cars, trucks, boats, motorcycles and other vehicles to charity organizations. Recently, car donations have become a popular way to donate to charities, and in recent years more and more charities have started accepting them and making the process very easy to do. Donating a car to charity is a great way to rid your driveway of an unused vehicle, plus you are clearing the clutter around your home. There’s no need to accumulate cars that could be donated to charity. Donating your car results in receiving tax benefits. It reduces the taxes that you would have to pay to the Internal Revenue Service, thus more money in your pocket at the end of the day! Charitable donations provide a tax benefit; as such, this type of giving has become very popular. For values less than $500, the value of the tax deduction comes from the donor’s own estimate of the car’s value, even if the charity receives less money from actually selling the car. Deductions for vehicle or car donations over this amount are limited to the sale amount of the vehicle (usually at auction). Non-profit organizations in the US have come to rely increasingly upon the revenue from car donations. This type of donation has... read more

Find Charity Right for You

Interested in donating to a charity? Great! Here are a few steps how to find a charity right for you! Donating to a charity is a great thing to do for many reasons, most importantly because it’s helping out others in need. By making the decision to donate to a charity you are making a great decision. However, the next step is hard: deciding the right charity to donate to. There are so many charities out there, which is great because they are helping out so many people in need and giving resources to many different causes. However what’s the right charity for you to donate to? Here are few steps to help you to find a charity. First and foremost choose a problem or cause that you care about. Sounds easy enough? However, there are so many charities out there, this only begins to narrow the field. Second, decide if you want to invest globally or locally. While local charities seem to work on a smaller level scale, they are more personal. Global charities also have their benefits. Thirdly, DO YOUR RESEARCH! After the first two steps you have narrowed down the playing field. Now its time to do your own research on these charities. If the charity is local, look into meeting with the director. If the charity is larger, email them with any questions or concerns you might have. Asking questions is essential in learning more about the charity. This brings me to my next point, Look for Red Flags. Like many things in life sometimes charities seem too good to be true. That being said look for... read more

What is a deduction and how donating a car to a charity can be deducted.

Learn about tax deductions and how donating a car to a charity can be deducted from your taxes. In this article you will also learn about filing statuses which are important in understanding more about your tax deduction. By definition a “Tax deduction is a reduction of income that is able to be taxed, and is commonly a result of expenses, particularly those incurred to produce additional income. The difference between deductions, exemptions and credit is that deductions and exemptions both reduce taxable income, while credits reduce tax”. There are nine important things that can be tax deductible, that you may not be aware. They are the following: sales tax, health and insurance premium, tax savings for teacher, charitable gifts, paying the babysitter, lifetime learning (usually geared toward college students), unusual business expenses, looking for work and self-employed Social Security. Car donation is the practice of giving away no-longer-wanted cars, trucks, boats, motorcycles and other vehicles to charity organizations. Learn about what is a deduction status and how donating a car to a charity can be deducted below. Non-profit organizations in the US have come to rely increasingly upon the revenue from car donations. But did you know that you can benefit from this donation as well? Charitable donations provide a tax benefit; as such, car donations have become more and more popular over time. For example in the US in 2000 over 700,00 taxpayers reduced their total taxes by over $650 million. The minimum deduction that you can claim on your motorcycle, boat, truck. car or any other vehicle is $500. This is claimed on an itemized federal... read more

Car Fair Market Value

What is Car Fair Market Value? What factors go into determining this value? What are the pros of getting this value and donating to charity vs. trading in your old car? How do you know that you’re getting the most money for your car? What factors goes into determining the FMV of a car? Several methods go into helping you determine a vehicle’s fair market value — whether it’s a new or used car, truck or van. Most options are available online and only require research to find what a vehicle is worth. By definition the fair market value of a vehicle is an agreed-upon price that is mutually acceptable to a buyer and a seller, where neither is under any pressure to complete the transaction. Car Fair Market Value allows the owner to estimate the value of property based on what a knowledgeable, willing, and under pressured buyers would probably pay to a knowledgeable, willing and under pressured seller in the market. When donating your car to charity its important to have a Fair Market Value estimate for tax returns. Many charities will do this for you, in hopes that you will donate your car to them. Unfortunately there are no fixed formulas, rules, or methods to determining the Fair Market Value. No two cars are the same. The factors that go into determining the Fair Market Value, include the type of car, how old the car is and the mileage on the car. The final sale price will likely be less depending on the vehicle’s actual condition, popularity, type of warranty offered and local market conditions. Fair... read more

How car donation works

How Car Donation Works –  three simple steps –  infographic Are you considering donating a car? Here is how it works. All you have to do is to submit your car’s info online via a simple donation form, then we will call you in 24 hours to arrange a free pick up of your vehicle and provide you with a car tax donation receipt. Remember that proceeds help funding different programs including educational, developmental and recreational programs for disadvantaged kids! Hundreds of people donate cars every day. Don’t wait and give us a call today to arrange a pick up. Carsgofar.org is service provided by Neshama Foundation, a reputable charitable organization focused on improving lives of children. Call today at 877.360.3767 or fill out a quick form on this page to send us your and your vehicle information and we’ll take it from... read more

Car Donation Deduction – How Much Can I Deduct?

How big can Car Donation Deduction be? Car donation is the practice of giving away no-longer-wanted cars, trucks, boats, motorcycles and other vehicles to charity organizations. Charitable donations provide a tax benefit; as such, this type of giving has become very popular. For values less than $500, the value of the tax deduction comes from the donor’s own estimate of the car’s value, even if the charity receives less money from actually selling the car. Deductions for vehicle or car donations over this amount are limited to the sale amount of the vehicle (usually at auction).  Non-profit organizations in the US have come to rely increasingly upon the revenue from car donations. This type of donation has become increasingly widespread in the U.S.; in 2000, 733,000 taxpayers reduced their taxes by $654 million. You can claim a minimum $500 car donation deduction on your itemized federal tax return when you donate your car or other vehicle, boat, motorcycle or truck. If your car sells for more than $500, the sale price will be the amount you can claim as a deduction. Most cars in the United States are accepted for donation, old or new, running or not running. Most importantly, remember that your donation can help disadvantaged youth so contact Carsgofar, a car donation service by Neshama Foundation today!... read more

Giving car as donation to charity

Donating a car to a charity Giving car as donation to charity is a great way to rid your driveway of an unused vehicle, plus you are clearing the clutter around your home. There’s no need to accumulate cars that could be donated to charity. Car donations to non-profit organizations have been great opportunities that benefit both sides of the contribution for many years. The car donor and the recipient benefit greatly. The person who donates their car to charity can deduct a value from their taxable income and the recipient obviously benefits by making use of the vehicle. Car donation can include practically any vehicle you would like to donate. You can donate a car, truck, motorcycle, and even recreation vehicles like a boat or an RV. Helping less fortunate kids and knowing that you have contributed by improving their quality of life with a tangible gift, one that they can put to good use, is far more personal and you can be assured that the donation has gone directly to a good cause. Car donation charities actually enlist the help of towing companies specifically, for pick-up and delivery of donated cars, to make the car donation process all the more convenient for the car donor. If you currently donate to a charity you can donate your car and designate what charity you want to the contribution to benefit. That way you can be specific about who receives your donation. Giving becomes much easier when you know where your money is going and being spent. Each state has car donation organizations in place for donating, pick-up, and delivery of your unwanted vehicles. Car Donation... read more

Donate Any Motor Vehicle

Donate Any Motor Vehicle – Car Donation is not Limited to Just Cars When donating your vehicle to charity, you can actually donate virtually any motor vehicle to the appropriate charity of your choice. Let’s say you have kids grown and out of the house and they no longer need or use the family boat or jet skis and you want to make room around the house, you can donate it to a charity. They will take care of picking it up and sending you a certified tax receipt. I know of families that have had a loved one that has passed and their car, truck, or RV has sat idle for months and they don’t know what to do with it. Charities can actually do one of three things with a donated vehicle. They obviously can find a person or family that can use it, or they can sell it at auction and make use of the cash to assist others. There is another use that most donors never realize. Charities can use the vehicles donated so they can further their efforts to assist those who need a ride, or some charities conduct benefits that promote their charity and an RV is just the ticket for that purpose. Just know that if you your donation is tax... read more
As one of the largest car donation charities we accept donations throughout the entire USA.