06-03-2010, 06:37 AM
happened at one time or another, almost everyone. You will receive your W-2 from your employer, and of course you have some money!It is a good thing, right? Yes and no. Good thing I had time enough taxes are deducted during the year, but what if you do not?What if you owe money to the Government on 15th April?This can be a scary situation for most people, and may ultimately cost. What if you owe money to the government what he has?Find a discount! If you sit an old car or one that did not work, it works perfectly. Maybe even a car that I Commerce, which has the same effect intended.Here are three simple steps to an income tax deduction by donating a car (or other vehicle).1st Do your homework.There are many websites offer the free information on the donation of a vehicle. Is this your car for more than $ 500? Can I deduct the full amount? Can you an RV? It is better to receive this information from a third party, do not have an interest in what they say.An excellent site for information on the donation of a car rental in online donations to be found. For online donations is a third party with no financial ties to a company, charity or nonprofit.2nd Find your charity or nonprofit.Do you know someone with cancer? Did you have a renal death in your family? Do you have a church? Support the Pro-Life? I recommend looking for a love that you can be proud to give a car.If you do not associate themselves with charities that accept donations in the world, you get more often! There are literally thousands of charities and not for companies to accept the donation of the service, you can find one that matches what you want.For most people, your donation is fully deductible. For some people, the state and income. If you need advice, consult a professional tax.Make sure you get a receipt for your donation, which will be necessary if they have already been reviewed. You may need the receipt if you prepare your tax professional.The next time you donate it in hot water with the IRS, just donate a car!