Donate a Car

Do you have an old car lying around that you want to get rid of? If so, you should consider donating it to a charity. Why? Donating to a charity serves the dual purpose of taking the vehicle out of your hands and being tax deductible. When selecting a charity, you should first check if it is able to receive tax-deductible donations. An organization's tax-exempt status can be checked through the IRS. Watch out for organizations that imply government recognition but are not approved. Your deductible amount will depend on the vehicle's intended use. If the vehicle is sold, you can deduct its value up to $500, or more if it sells for a higher price.