The
MA State government notes: "Donating a car is a way to support a
charitable organization while still reaping an economic benefit through a
tax deduction."
Below we have listed the charities that you can support through car donations in Massachusetts. These are eligible §501(c)(3) organizations, public charities which the Internal Revenue Service has determined to be tax-exempt.
Before you select the charity for your Massachusetts car donation, if you have any questions, please read through our Frequently Asked Questions to learn how our program works and why we are the best choice for vehicle donations in Massachusetts.
Once you are ready (or if you're ready now!), simply note a charity from the list below (or click to find out more information on donation recipients) and then donate your car using our convenient online car donation form or call us toll-free at (866) 392-4483 to donate over the phone.
FREQUENTLY ASKED QUESTION
What can I donate?
We accept cars,
trucks, vans, fleet vehicles, trailers, boats, motorcycles, and RV’s.
Your donated vehicle can be a car, truck, van, motorcycle, RV or boat
with trailer. We also accept real estate.
What is required to donate my car?
We will pickup your car within one to two business days from the day you book the donation. Your signed title is required at time of pickup. If you have lost your car title, please call us toll-free at (866) 392-4483 and we will assist you in obtaining a new one.
Is my car donation tax-deductible?
Our charities are non-profit organizations and a vehicle donation on their behalf is completely tax-deductible for taxpayers that itemize. Individual tax situations may vary so please check with your tax professional. (Please be aware that to qualify for a tax deduction, you must not receive, in exchange, any goods and/or services from the 501 (C)(3) nonprofit organization receiving your car donation.)
How is the tax deduction amount determined?
The amount of the tax deduction is based on the sale price of your vehicle. Vehicles that sell for over $500 entitle you to a deduction equal to the sale price. If your vehicle sells below $500 you may take the greater amount of either the sale price, or the fair market value of the vehicle (up to a maximum of $500). This means that in most cases, your minimum tax deduction amount will be $500. To assist you in determining the value of your vehicle deduction, we can review current selling prices of late model vehicles at our yards nationwide. Older vehicles are sold for a flat rate to our salvage companies and in most cases you will be able to claim the IRS minimum $500 tax deduction for your vehicle donation. After we sell your vehicle, you will receive a charitable donation receipt from your favorite nonprofit, satisfying the requirement of the IRS. You should consult your tax professional if you have further questions. (Please be aware that to qualify for a tax deduction, you must not receive, in exchange, any goods and/or services from the 501(C)(3) nonprofit organization receiving your donation.)
Can you estimate what the sale price will be for my car?
Yes, we can give you a estimate. Estimates are based on actual nation-wide selling prices of current auction prices and not KBB values; which are unfortunately frequently inaccurate and inflated values. This is why the IRS does not permit use of KBB values when determining the amount for the majority of vehicle donations. To give an estimate, we will need to know the pick-up location, year, make, model, mileage, and condition of the vehicle.
How will the car be picked up?
You will be contacted by a licensed and insured towing company within two business days. They will arrange for pickup at a mutually acceptable time. There is no towing cost to you.
How should I prepare for the vehicle pick up?
What happens to my donated car?
Your vehicle will be picked up and sold at auction to either a licensed car dealer or a licensed vehicle recycler.
How does Donate For Charity work with my favorite nonprofit?
Donate For Charity is under contract with your favorite nonprofit. We are your favorite nonprofit’s authorized agent and we ensure that your nonprofit gets the maximum amount from your vehicle donation proceeds by individually managing the sale of every vehicle at one of numerous auction locations throughout the country. Your selected charity will receive between 70-80% of the net proceeds from the sale of your car depending on the sale amount (the percentage increases as the sale amount increases). The only work our charity partners perform is the mailing of Thank You letters after they receive a detailed report of your car donation.
How do I donate?
It’s simple. Either call our toll-free number (866) 392-4483 or click on the link to our car donation form. You will need to provide us with the year, make, model and approximate mileage of your vehicle. In addition, you will need the vehicle identification number (VIN) which is a 17-digit number found on your registration, title or insurance policy. It can also be found on your car, near the base of the windshield, usually the left-hand side.
Below we have listed the charities that you can support through car donations in Massachusetts. These are eligible §501(c)(3) organizations, public charities which the Internal Revenue Service has determined to be tax-exempt.
Before you select the charity for your Massachusetts car donation, if you have any questions, please read through our Frequently Asked Questions to learn how our program works and why we are the best choice for vehicle donations in Massachusetts.
Once you are ready (or if you're ready now!), simply note a charity from the list below (or click to find out more information on donation recipients) and then donate your car using our convenient online car donation form or call us toll-free at (866) 392-4483 to donate over the phone.
FREQUENTLY ASKED QUESTION
What can I donate?
What is required to donate my car?
We will pickup your car within one to two business days from the day you book the donation. Your signed title is required at time of pickup. If you have lost your car title, please call us toll-free at (866) 392-4483 and we will assist you in obtaining a new one.
Is my car donation tax-deductible?
Our charities are non-profit organizations and a vehicle donation on their behalf is completely tax-deductible for taxpayers that itemize. Individual tax situations may vary so please check with your tax professional. (Please be aware that to qualify for a tax deduction, you must not receive, in exchange, any goods and/or services from the 501 (C)(3) nonprofit organization receiving your car donation.)
How is the tax deduction amount determined?
The amount of the tax deduction is based on the sale price of your vehicle. Vehicles that sell for over $500 entitle you to a deduction equal to the sale price. If your vehicle sells below $500 you may take the greater amount of either the sale price, or the fair market value of the vehicle (up to a maximum of $500). This means that in most cases, your minimum tax deduction amount will be $500. To assist you in determining the value of your vehicle deduction, we can review current selling prices of late model vehicles at our yards nationwide. Older vehicles are sold for a flat rate to our salvage companies and in most cases you will be able to claim the IRS minimum $500 tax deduction for your vehicle donation. After we sell your vehicle, you will receive a charitable donation receipt from your favorite nonprofit, satisfying the requirement of the IRS. You should consult your tax professional if you have further questions. (Please be aware that to qualify for a tax deduction, you must not receive, in exchange, any goods and/or services from the 501(C)(3) nonprofit organization receiving your donation.)
Can you estimate what the sale price will be for my car?
Yes, we can give you a estimate. Estimates are based on actual nation-wide selling prices of current auction prices and not KBB values; which are unfortunately frequently inaccurate and inflated values. This is why the IRS does not permit use of KBB values when determining the amount for the majority of vehicle donations. To give an estimate, we will need to know the pick-up location, year, make, model, mileage, and condition of the vehicle.
How will the car be picked up?
You will be contacted by a licensed and insured towing company within two business days. They will arrange for pickup at a mutually acceptable time. There is no towing cost to you.
How should I prepare for the vehicle pick up?
|
What happens to my donated car?
Your vehicle will be picked up and sold at auction to either a licensed car dealer or a licensed vehicle recycler.
How does Donate For Charity work with my favorite nonprofit?
Donate For Charity is under contract with your favorite nonprofit. We are your favorite nonprofit’s authorized agent and we ensure that your nonprofit gets the maximum amount from your vehicle donation proceeds by individually managing the sale of every vehicle at one of numerous auction locations throughout the country. Your selected charity will receive between 70-80% of the net proceeds from the sale of your car depending on the sale amount (the percentage increases as the sale amount increases). The only work our charity partners perform is the mailing of Thank You letters after they receive a detailed report of your car donation.
How do I donate?
It’s simple. Either call our toll-free number (866) 392-4483 or click on the link to our car donation form. You will need to provide us with the year, make, model and approximate mileage of your vehicle. In addition, you will need the vehicle identification number (VIN) which is a 17-digit number found on your registration, title or insurance policy. It can also be found on your car, near the base of the windshield, usually the left-hand side.
No comments:
Post a Comment