Car Donation Tax Deduction
If you are no longer using your car, choosing to donate your car to a charity or nonprofit can be a great way to get a tax break, too.
While not all charities are recognized nonprofits, IRS recognized nonprofits (those with 501(c)3 status) are often able to give a tax receipt for your donation which you can then use as a tax write-off.
Related Post : Donate Your Car to Charity
It can be more complicated than that, though, so we recommend you consider reading the IRS guide, titled “A Donor’s Guide to Car Donations” so you know exactly how the tax deductions work and might help you lower your tax bill. In most cases, your maximum deduction is $500.
Read Also : Benefits Of Donating A Vehicle To Goodwill
Best Car Donation Charity
But how do you determine the best car donation charities for your vehicle donation? Fortunately, we’re here to help; in the charities section below, we’ll break down the process for each of the major nonprofits which you might consider when you donate your car to charity.
other article : Cars Most Frequently Donated
If you’re just looking for a short overview, though? Our best car donation charities are as follows: Kars4Kids, Wheels for Wishes, Allstate, and Charity Cars. You can find more information about each in our Charities section below!