Donating a car to charity is a great option instead of getting rid of it. Instead of considering to sell it this is the most ideal alternative. However, if you decide to go on this route there are several considerations you should have in mind. Given that there are many charities you can donate your vehicle to, it is easy for one to get overwhelmed on which one to select. Below are guidelines that will help you pick the right Wisconsin car donations.
It is vital for you to be aware of the IRS guidelines that govern charitable donations or . Have a look at the IRS website to know what limitations they offer on contribution deductions. You will be able to determine your vehicles value. If you tax matters are complex, seek the services of a financial advisor to get professional advice. Consider identifying a legit charity. They should have a good track record. A good charity will have their details on national charity and IRS database especially if they deal with donation cars for sale or donate car for tax credit.
Don’t make that assumption that all car donations charities are equal. It is for this reason that you have to look at their records of spending for you to be certain that they will use your donation well. There are reputable sites where you can check their reputation for you to make the right decision. 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. Go for a charity that has been in existence for a considerable time. You will be sure about their track record given that you will have checked their past dealings to know if they are genuine. 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.
For you to ensure that they get the full amount from the proceeds, you can take the vehicle there by yourself. 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, ensure that you transfer the title accurately after the donation process is complete. 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.