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Donate Car New York

Posted in Cities, Donate Car, New York and tagged , by admin

Donating a Car in New York: Things to Know

New York is filled with hundreds of charities that are waiting for your car donation. Many local New York charities often can pick your car up the next day at no charge. This can save you a lot of hassles and help a charity in need. Let’s not forget that when it comes tax time, you’ll be able to have a nice deduction.

Before you get excited and donate a car in New York, there are a few quick things that you should know:

    • Make sure that the charity is a registered 501(c)(3) organization. If the charity isn’t registered, the IRS won’t allow you to write it off.
    • Get a value for your car. If the charity doesn’t plan on selling it, the IRS will want a fair market value
    • Most charities will pick your car up for free with a tow truck. If possible, try to drive there directly to help them save the tow cost.
    • Research your charities. Know how much of the proceeds of the sale will go directly to the charity.

san francisco car donation

If having a hard time choosing a charity, the charities noted below are reputable 501(c)(3) organizations that will tow your car away for free:

Alzheimer’s Association of New York: Leading the nation and state of New York in Alzheimer care, they provide advanced research, personal care, and support for families in need.

American Kidney Fund: The American Kidney Fund help patients, educate them, and offer preventative help. The American Kidney Fund puts patients first and is a recognized leader throughout the United States.

Children’s Cancer Fund: The mission of the Children’s Cancer Fund is simple. Their goal is to offer support to affected children and help improve the quality of their life. The majority of the donations made to this organization is sent for lab research.

For the Love of Animals: A nonprofit, all volunteer agency that helps prevent animal abuse and overpopulation. The sole purpose of this organization is to help educate the public the true responsibilities of animal ownership.

Ride for Life: Ride for Life is a nonprofit organization that help caregivers and patients living with ALS. Their mission is to help raise awareness to the public about ALS and help provide adequate support to patients in need.

The Benefits of Tax Deductions

To donate a car in New York, many leave feeling good helping organizations in need. The good feeling shouldn’t stop there though. A donator should also be aware that the IRS will reward those that donate a car with many tax benefits such as large deductions. To help you understand the process, here’s what you should know:

If your car is worth less than $500, the IRS will ask that you give them with a fair market value and written acknowledgement from the charity. If the car is worth more than $500, the final sale price of the car will be the deduction that you can receive. 99 percent of charities out there will sell your car within 30 days of receiving it. Upon the sale, they will send you a form claiming the final sales price. This is the price that you have to claim on your taxes. If the car was sold for more than the $500, you’ll have to complete the IRS Form 8283 via the Schedule A.

In the end, the biggest winner out of everything can be you. You’re going to help people in need, you’ll get a nice deduction, and you don’t have to worry about the hassle of selling your car. If you want to donate a car in New York, consider a few charities noted above, or use the tips provided to pick one that suits your interests.

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