The first step to donating your car is to contact an organization that you feel passionate about, and once you make your selection all you need to do is call them up. You will need to fill out a tow yard form and then wait for the organization to contact you, usually within 24 to 72 hours after you donate it. When they do call you will then proceed to set up a day to have your car towed to a junk yard. They will offer a free tow service to tow your car away to the junk yard, so you don’t need to worry. When the tow company picks up your car they will give you a tax deductible receipt. If you have two old cars sitting in your driveway that you planned on fixing up with your son, but never got around to it. They you can donate both of them at the same time, it doesn’t matter what condition, or how old the car’s are they are needed.
After about a few weeks of the free towing of your car you will receive a tax deductible receipt in the mail. You will be able to claim a tax deduction in two different ways. The first is the value of the car donation up to $500 or for the amount that the organization sold your car for if it’s over $500. You can learn more about this on the IRS website.
There are some things that will prevent you from being able to donate your car, boat, or RV, such as unpaid parking tickets, or no title. The charity can not offer you free towing if you have parking tickets or no title for the vehicle.
Donating your unused car is a great way to help out all different types of charities. Imaging giving a child the ability to go to school and learn to one day become a successful surgeon that saves many lives. You help them to do that. There is an unlimited amount of different scenarios that I can put out there, and they would all be true. What it basically comes down to is by donating that car that has just been a waste of space in your driveway or your garage you will be offering many new possibilities to many people. And you don’t have do anything but fill out a piece of paper, wait for the free tow service to take your car to the junk yard, and deduct $500 or more off of your tax return. Ask yourself this question, would you be able to sell that car for $500, and if you could how quickly would you spend that money. At least this way it’s helping you to get a much nicer tax return this year, putting more money in your pocket come April.
