Car Donation Boston

Posted in Boston, Cities, Donate Car and tagged , by admin

Boston Car Donations: Who to Consider

Selling a car can be a stressful process. You’ll have to make appointments, meet with people, and just wait it out. Instead of getting a few dollars for your car, a car donation could be viable option. Everybody wins in this situation since the charity can get the proceeds and the donator can feel great about helping those in need. Let’s not forget that Uncle Sam will reward you on your tax return.

If you’re on the fence and are thinking about making a car donation, listed below are a few quick tips you should know before handing over your keys.

donate car

The Process:

To make a car donation in Boston, charities will ask for a clear title and the keys to the car. The charity can either pick up the car from your residence or even allow you to drop the car off at their location. When the car is dropped off, the charity can then either sell the car or use it for company use. Regardless of the situation, a charity is required to give you a written acknowledgement upon either the sale of the car or at the time of the drop off. Be sure to save this acknowledgement as the IRS will require it.

Tax Deductions

A car donation in Boston helps more than just a great charity. Your generous donation can often help you save a few dollars on your tax return. Taxes are always complicated, but a car donation deduction doesn’t have to be if you understand the process.

If your car is worth less than $500, you’ll only need a written acknowledgement at the time of the drop off. On your tax return, you’ll provide a fair tax value to the IRS. Nothing else will be required.

If the car is worth more than $500, the deduction will depend on two factors. The first factor is if the charity is going to sell it. If the charity decides to the sell the car, you’ll only be able to write off the final sales price. For instance, even though you thought the car was worth $3,000, you can’t use that amount if the charity sold it for $2,500. If a charity does sell a car, they are required by law to offer you a sales receipt with 30 days. Be sure to save this for your tax return.

The second factor is if the car is going to be used by the charity. Let’s say that you donate to a local food bank. They use your car for six months and deliver meals to local residents. After that six months, they decide to sell your car for $2,000. If you thought your car was worth $3,000, you may be able to write it off for that full amount since the charity used your car for a fair amount of time. As always, if you ever have questions, a qualified accountant or even the charity will be able to answer your questions in detail.

Top Charities in Boston

Humane Society: As a no-kill, nonprofit organization, the Humane Society shelters cats, dogs and other animals. They try to fight over-population and offer public veterinary care. Through your car donation, the proceeds will offer animals with food, vet care, and a safe place to sleep at night.

Lung Cancer Alliance: Lung Cancer is by far the most popular type of cancer in the United States. The Lung Cancer Alliance places a large emphasis at making lung cancer a number one priority. They offer support programs and unique education classes.

Cars for Kindness: The Cars for Kindness program reaches out to senior citizens in the community that are in need. They offer programs and help to any senior citizen regardless of their background or beliefs.

The charities noted above will pick up your car free, usually within 48 hours. If you want to make a car donation in Boston, just make sure that you always research your charity wisely. There are hundreds of charities out there now that are waiting for your call.