Some car owners are sentimental about their cars, and they want to make sure they sell it to someone who knows how to keep them well. That is why car owners look into donating their old car to charity. Not only would their taxes be deducted, but it is also for a good cause. Here are some ways you could make sure you donate the car to the right group.
1. Do some research on the organization
There are numerous non-profit organizations with various causes which are in need of donations of any kind. A vehicle is almost always one of them. However, it is important to do complete research on the organization, so you know that their goals are in line with your views and avoid scams. Look deep into their causes, activities, and reputation.
2. Choose a recognized institution
Donate to an institution recognized by the government so you could receive a tax deduction. Check your country’s taxation laws for more detailed information on which institutions could accept your car as a donation and tax deduction.
3. Have your documents in order
A donation is also a business transaction that involves the actual transfer of ownership. Thus, having your paperwork ready before closing the deal can not only help you make the transaction easier but also help you deduct all the necessary deductible taxes. Do not forget to keep receipts and documents related to the donation for future reference.
4. Follow up on the organization’s activities
Despite transferring the ownership, you can call and check on how your car is helping the institution. This is also one way of verifying that you transacted with a legitimate one.
Make your donations count. Make sure to do ample research before you part with your money or your vehicle.