A Guide To Help You Pick The Right Wisconsin Car Donations
Donating a car to charity is a great option instead of getting rid of it. It is a good option other than selling it. However, if you decide to go on this route there are several considerations you should have in mind. There are plenty of charities and you need to identify one that is most suitable for you situation. Keep reading for you to know what you should consider when looking for boat donation or motorcycle donation .
It is best for you to begin by finding out IRS guidelines donations found in your state. It is best for you to consider checking them on the IRS website for you to know the amount of limitations given when it comes to contributions deductions made. It will be easy for you to know the market value of the car. You can talk to a professional financial advisor to get guidance on complex tax issues. Consider identifying a legit charity. Consider looking for one with a good history. Give consideration to those who have the information on IRS or national charity database to be sure that they are legit.
Don’t make that assumption that all car donations charities are equal. For you to determine if they use donations well, check their records of spending. It will be easy for you to make the right choice by looking at sites that show the reputation of different charities. Get recommendations from friends who have previously donated their vehicles to charity. It will be easy for you to make a decision based on the experiences they share with you. Pick a charity which has been in existence for long. You will be comfortable given that they have handles such dealings in the past. Check client testimonials and reviews for you to know more about their reputation.
In addition, the charity you select needs to accept the donations directly without the use of any third party.
It is best for you to drive the vehicle there as opposed to using towing services so that the charity can be able to retain the full amount they get from any proceeds. You can request them to share with you contact information of previous car donors and get in touch with several of them. You will get information about the processes they use and their reputation. References will shed insight on what is not provided on the website.
Also, after donating the vehicle, the title needs to be transferred accurately. Failure to do the transfer process means that the next owner will not be held liable for any accidents or crime but you. A reputable charity will provide paperwork for you to fill out this information. Ensure you scan copies of the paperwork and keep them safe tax audit purposes.