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disABLEDperson
Inc. is looking for
Corporate Sponsors,
would you like to be one and support the disability community? If so, please
contact us at 760-420-1269. Click here for
suggested rates!
You are looking in your driveway and catch a glance at your car. You have been
wanting to get a new car. Your wife and you have been talking about it for a
while. The car that you have been wanting to get has a great lease deal and both
of you agree that you can afford it. The problem is your used car isn’t worth
much and you won’t get you anything on trade in. What should you do with it? We
know, you can make a used car donation to disABLEDperson Inc.!
Used car donations are a life blood to many charities and the money received
from them help the charities with their operational costs. Its no different here
at disABLEDperson Inc.
Our used car donations program is set up in collaboration with Vehicles-Donation
to Any Charity (V-DAC) as our administrator. Through this car donation program,
V-DAV a free, convenient service for converting your used car into a tax
deductible donation benefiting disABLEDperson Inc.. You can donate online by
clicking on
http://www.v-dac.com/org/?id=330937618 or call 866-332-1778 to make
your used car donation.
Don't donate your used car or truck to some charity you have never heard of. Our
trusted service makes sure your vehicle is properly handled so you get your tax
deduction and your charity, disABLEDperson Inc., gets the benefit of your
donation. After the sale of your used car, V-DAC will take out some
administrative costs which total about 27-28% of the value of the car on
average. V-DAV will then give the remaining 72-73% to disABLEDperson Inc. where
100% of that money will be used for operational costs to support our mission to
reduce the near 79% unemployment rate amongst disabled Americans.
Before you make that used car donation, we suggest that you become familiar with
IRS regulations concerning car donations.
First off, Check that the Organization is Qualified. Taxpayers must make certain
that they contribute their car to an eligible organization; otherwise, their
donation will not be tax deductible. disABLEDperson Inc is a 501(c)(3) 509(a)(1)
public charity. To View IRS Letter of Exemption,
Click Here. Also, you can call
IRS Tax Exempt/Government Entities Customer Service at 1-877-829-5500. Be sure
to have the organization’s correct name and its headquarters location, if
possible. disABLEDperson Inc. PO Box 230636 Encinitas, Ca. 92023-0636.
Itemize in Order to Benefit. Many taxpayers can’t take a deduction for car
donations because they don’t itemize deductions on their personal tax return.
For taxpayers, the decision to itemize is determined by whether their total
itemized deductions are greater than the standard deduction (for 2004, the
standard deduction is $4,850 for single filers and $9,700 for married filing
jointly). Just under one-third of the nearly 129 million individual taxpayers
itemized in 2000, the last year for which complete data is available. Please
check with your tax specialist.
Calculate the Fair Market Value. The donor must take many factors into
consideration to establish the value of the car. Many used-car buying guides
contain step-by-step instructions so that readers can make adjustments to the
value of a car for accessories, mileage and other indicators of its general
condition. Publication 526, Charitable Deductions, and Publication 561,
Determining the Value of Donated Property, provide detailed instructions.
Deduct Only the Car’s Fair Market Value. Some car donation program operators
have mistakenly claimed that donors can take the full value of their car as
listed in a used-car buyer’s guide for a deduction. The IRS, however, only
allows a deduction for the fair market value of the car. Fair market value takes
into account many factors, including the vehicle’s condition. The fair market
value of the taxpayer’s car may be substantially different than the full
used-car buyer’s guide.
Document the Charitable Contribution Deduction. For vehicle donations, taxpayers
must document the car donation and its fair market value. Record keeping
requirements are comprehensive and vary depending on the amount of the
contribution and the total amount of the charitable deduction. Publication 526
details requirements for the types of receipts taxpayers must obtain and the
forms they must file.
Contact State Charity and IRS Officials When in Doubt. Donors with questions
about whether a contribution is deductible should call the IRS at 1-800-829-1040
or for TTY/TDD help, call 1-800-829-4059.
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disABLEDperson Inc. PO Box 230636 Encinitas, Ca. 92023-0636
