San Francisco Car Donation

Posted in Cities, Donate Car, San Francisco by admin

Car Donation in San Francisco 101

San Francisco is packed full of charities that are ready to take your car today. If you have thought about donating a car and not selling it, you probably already know that not only will you get a nice tax deduction come tax season, but you’ll be helping out the less fortunate in your community.

To make things easier, listed below are a few reputable San Francisco car donation organizations that are currently accepting car donations:

Arc of San Francisco: Founded in 1951, the Arc of San Francisco helps provide various opportunities for people with disabilities, developmental issues and families in need. The Arc will accept all types of cars seven days a week. Fill out a form on their official website, and a representative will arrange a free towing within 24 hours.

SPCA of San Francisco: The sole mission of the SPCA is to help save and protect animals. They offer care, treatment, adoption services and even provide a public veterinarian clinic. Those that are interested in donating their car will know that the proceeds of their car sale will help those animals in need. To donate a vehicle, the SPCA asks that you have a clear title and a car that is worth more than the cost of towing. Within 24 hours of contact, the SPCA can offer next day pick-up.

San Francisco Food Bank: On a daily basis, close to 200,000 people in the San Francisco area struggle with nutrition. This means fewer meals per day and a poor diet. The San Francisco Food Bank will help those families with free and reduced meals. A donator can be assured that the sale of their car will go to people who need healthy meals in their everyday lifestyle. To donate a car to the food bank, the vehicle can be towed and auctioned off for free. When auctioned off, all they ask is that you appoint them as their beneficiary.

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What Can I Expect to Write off?

Making a San Francisco car donation does have great benefits in terms of tax deductions. The process can be rather confusing, so let’s try to clear things up.

For starters, most charities are going to sell your car after you give it to them. As long as the charity is a registered 501(c)(3) organization, the donator can legitimately claim a deduction. If the value of the car is less than $500, all the IRS will ask for is a written acknowledgment by the charity. The value of the car is then left up to the donator. Keep in mind that the value can’t exceed the $500 mark.

Now, if the car is worth more than $500, extra steps will have to be taken. You must get a sales receipt within 30 days of the sale. The true deduction of your car will be the final sales price. For example, if you think that your car is worth $2,000, but it only sells for $1,500, the car will have a final deduction of $1,500. With a sales receipt, the charity will send something known as a Form 1098-C. The IRS will require that you attach this sheet to your return.

You must complete the Schedule A of Form 8283 to claim your car donation deduction if the car is worth less than $5,000. If the car was worth more than $5,000, you’ll have to fill out section B of Form 8283. A written appraisal will also be needed.

While the tax process can be rather confusing, all charities will be able to walk you through the right steps so that you don’t miss out on any money. A San Francisco car donation is a great way to get rid of a car without any hassles while helping families and organizations in need.