Oddpath.com - If you want to Donate your Vehicle as a Write off or Deduction here's how

Sept. 19, 2010 - PRLog -- However with the proper advise from your accountants and or possibly lawyers too, can take your write offs or deductions for certain items. Do you have a car your not using? Maybe one that you were thinking of giving away? Well the good news is you can more then likely write it off as a deduction when you get your W-2 from your employer. I mean chances are you would only want to do this if you were stuck owing money on your taxes come April 15 of the year. Then again some people out there are stuck owing the government more money then they actually have and therefore they will need to find a deduction if possible.

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Now is when we get that old car out of the barn or garage and dust it off. Or wait, maybe its a car your using but you recently decided you wanted to sell it but didn't think you'd get much for it. Now is your chance to donate your car or some time of vehicle or boat. Follow these simple steps to help you donate your car as a tax write off. Please make sure to also seek advise from your accountant and or lawyer in addition to following these simple methods below:

- There are countless sites on the world wide web that offering free of charge information with reference to donating a car, automobile or vehicle.  Is your vehicle worth more than $1,000?  Are you able to deduct part of the vehicle or the full amount? Does it go by a percentage of the total value of the vehicle when it comes to donating it? Can you donate a boat or an RV? it is always best to compile all the information you can dig up and submit it to your accountant or lawyer for advise on the approach you should take depending on your tax situation. We recently discovered a good site to find information on for donating your vehicle  

- Support a charity organization. Support a church. Support the homeless. Support cancer foundations or someone with cancer possibly by donating your vehicle to them. This in my opinion, would be something to be proud about as well as giving it to someone that truly needs it and perhaps can't afford one. if your not familiar with any charities or non profit organizations then go online and find some. There are literally loads of them everywhere you look and you can pick the right one for you!

- When you donate your vehicle make sure it is a write off or deductible. For most people the full vehicle will be a write off or a deduction but yet it might vary depending on the state and your income bracket. Like we previously mentioned, make sure you get the proper advise from a tax expert. When you donate or gift your vehicle make sure to keep a copy of the receipt as you will need it for your records.  

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