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The Cars 4 Causes Blog.

Mar 18 2015

Tax Deduction & Car Donation – 3 Things To Consider

Category: Car Donation FAQ's,Cars 4 Causes news,Charity News,GeneralJackie Mack @ 10:41 am

Donations to charity are tax deductible and can reduce your taxable income.  If you donated a vehicle to charity you may want to review the IRS Publication “A Donor’s Guide to Vehicle Donations” IRS Publication 4303 (Rev. 1-2015).  This Publication provides important information you will want to consider if you are planning to claim a vehicle donation as a charitable deduction.

 Car Donation and Tax Deduction

According to the IRS there are 3 things you should consider regarding your charitable vehicle donation:

Q:  Is The Charity Of My Choice A Qualifying Charity?

 A:  “The most common types of qualified organizations are section 501(c)(3) organizations such as charitable, educational, or religious organizations.”  To verify that an organization is a qualified charity you can use the EO Select Check tool on the IRS website.  It is important to note that “Not all qualified organizations are listed in EO Select Check which can be found at http://www.irs.gov/Charities-&-Non-Profits/Exempt-Organizations-Select-Check. Please note churches, synagogues, temples, and mosques are not required to apply to the IRS for recognition of exemption in order to be qualified organizations and are frequently not listed.”  If you have questions regarding a charity you can call the IRS Customer Account Services division for Tax Exempt and Government Entities at (877) 829-5500 (toll-free).  Be sure to have the charity’s correct name and address when you call.

Q:  How Do I Determine The Amount I Can Deduct For My Vehicle Donation?

 A:  Vehicles sold for over $500:  “If the charity sells your vehicle for over $500, your deduction is limited to the gross proceeds the charity receives from its sale.  The charity should provide you with a Written Acknowledgement for Vehicle Contribution or an IRS Form 1098-C, Contribution of Motor Vehicles, Boats, and Airplanes, as acknowledgment.  The Written Acknowledgement or IRS Form 1098-C should contain the following information:

  • Your name and taxpayer identification number,
  • The vehicle identification number
  • The date of the contribution, and one of the following:
    • A statement that no goods or services were provided by the charity in return for the donation, if that was the case,
    • A description and good faith estimate of the value of goods or services, if any, that the charity provided in return for the donation, or
    • A statement that goods or services provided by the charity consisted entirely of intangible religious benefits, if that was the case.
  • A statement certifying that the vehicle was sold in an arm’s length transaction between unrelated parties,
  • The date the vehicle was sold,
  • The gross proceeds received from the sale, and
  • A statement that your deduction may not exceed the gross proceeds from the sale.

Note:  If the acknowledgement does not contain all required information the deduction may not exceed $500.

Vehicles sold for under $500:  If you are claiming a deduction of $500 or less, you will need to determine your vehicle’s fair market value as of the date of the contribution.  Generally, fair market value is the price a willing buyer would pay and a willing seller would accept for the vehicle, when neither party is compelled to buy or sell, and both parties have reasonable knowledge of the relevant facts.

If you are using a vehicle pricing guide to determine fair market value, be sure that the sales price listed is for a vehicle that is the same make, model, and year, sold in the same condition, and with the same or substantially similar options or accessories, as your vehicle.  Moreover, the fair market value of a vehicle cannot exceed the price listed for a private-party sale.”  IRS Publication 4303 (Rev. 1-2015).

Q:  What Are My Responsibilities As A Donor?

A:  For the IRS you will need to record certain information about the donation including the name and address of the charity you donated to, date of donation, place where donated and a description of the vehicle.

IRS Publication 4303 (Rev. 1-2015) states “You must attach to your return the written acknowledgement received from the charity if you are deducting more than $500. Depending on the amount you are claiming as a charitable contribution deduction, you may need to get and keep certain records and file an additional form or statement to substantiate your charitable contributions.”

Form 8283, Noncash Charitable Contributions-

“If the deduction you are claiming for a donated vehicle is greater than $500, but not more than $5000, you must complete Section A of form 8283 and attach it to your Form 1040.

If the deduction you are claiming for a donated vehicle is greater than $5,000, you must complete Section B of Form 8283, which must include the signature of an authorized official of the charity, and attach it to your return.”

For more information you may want to consult with your tax advisor.  You can view the IRS Publication 4303 “A Donor’s Guide to Vehicle Donation” at http://www.irs.gov/pub/irs-pdf/p4303.pdf.

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Feb 06 2015

Cars 4 Causes® Goes RED For Women!

February is heart health month; and today is National Wear Red Day.  Cars 4 Causes® “Goes Red For Women” to help raise awareness for heart disease and it’s impact on women.  Did you know that 1 in 3 women die of heart disease and stroke?  Today is a great day to learn about heart disease and stroke.  Take action….live a healthier life!

Cars 4 Causes® Goes Red For Women!

Cars 4 Causes® Goes Red For Women!

7 Simple tips to prevent Heart Disease and Stroke

  • Eat a balanced diet
  • Get plenty of exercise
  • Limit alcohol and tobacco consumption
  • Get a yearly physical
  • Check blood pressure
  • Check cholesterol
  • Manage Diabetes

Signs of a heart attack

  • Pain in the center of your chest which last more than a few minutes
  • Discomfort or pain in one or both arms, back and neck, jaw and stomach
  • Shortness of breath which may be accompanied by chest pain

If you have these symptoms take immediate action – call 911.

Signs of Stroke

  • Numbness or weakness on one side of the face, arms or legs
  • Confusion or trouble speaking
  • Trouble seeing and sudden severe headache
  • Dizziness and trouble walking

If you have these symptoms take immediate action – call 911 – Be sure to make note of the time of the first symptom as this can help with recovery.

To learn more about the “Go Red For Women” Campaign and to learn more about how to prevent Heart Disease and Stroke visit https://www.goredforwomen.org/

#GoRedForWomen #GoRed

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Jan 27 2015

It’s Tax Season – 4 Ways Cars 4 Causes® Can Help You!

Category: UncategorizedJackie Mack @ 11:50 am

It’s tax season again.  Many individuals view their tax refund as an opportunity to buy a new or used car.  Are you one of those people?  If so, Cars 4 Causes® can help you get the most bang for your buck!  We can help you when it’s time to buy a used car or donate your old car and, when you donate, you qualify to receive a tax deduction.  You can also choose your favorite charity to benefit from your donation.  YES!  We can help you with all of that this tax season.

4 Ways We Can Help During Tax Season

4 Ways We Can Help During Tax Season

Buying a New Car

Are you looking to upgrade and replace your old vehicle?  If so, don’t trade-in your old car donate it.  You will be glad you did!  When you donate you automatically qualify for a tax deduction.  We provide you with the forms necessary to claim that deduction for tax purposes and you can select a qualified 501(c) (3) charity to benefit from your donation.

Buying a Used Car

Are you planning on buying a used car?  Cars 4 Causes runs a very successful online auction.  Be sure to check it out before you consider buying elsewhere.  Here’s why… Buying a car from us is so much more than just a purchase!  The money you spend goes directly to support charitable causes.  The dollars from your purchase will go to support someone in need.  You will be a part of the movement to make a difference in the lives of those less fortunate.   If you win one of our auctions; be sure to ask our sales staff to tell you about the cause your purchase will be supporting.  “It Feels Good Helping Others!”®

Donate Your Old Car

Now that you’ve purchased that new car Cars 4 Causes will make donating your old car a breeze.  The donation process is simple and takes just a few minutes.  We will arrange to have your vehicle picked up by one of our licensed, insured and approved towing operators, usually within 24-48 hours.  Each vehicle is then carefully evaluated by our experienced staff to determine the appropriate sales channel to generate the largest tax refund for you and the most money for your charity.   Our sales channels include outlets for retail sales, wholesale auctions and clean air salvage outlets.  

When you donate you automatically qualify for a tax deduction and we provide you with the forms necessary to claim that deduction for tax purposes.  In addition, you may select any qualified 501(c) (3) charity to benefit from your donation.  That’s right… you get a tax deduction and your charity benefits.  We are “The Charity That Gives to Charities”®

Plan Your Tax Savings

Did you know that when you buy a new or used car you may qualify to deduct the taxes and fees you pay?[1]  Also, if you donate your old car to us you qualify for a tax deduction.   We will provide you with the tax forms necessary to claim your deduction for tax purposes.  That adds up to double the tax savings!  We recommend that you consult with your tax advisor so that you can maximize your tax savings.

Support a Charitable Cause

When you donate a vehicle to Cars 4 Causes you can name an additional charity to benefit from your donation.  That’s right …. You choose the charity.   Vehicle donation changes lives.  The value of each donated vehicle is different.   Did you know that on average just one donated vehicle can provide up to 700 hot meals or 28 nights of shelter. [2]  Now that’s what I call impact.   We invite you to become a part of the movement to help others… Your donations make a difference.

Cars 4 Causes Car Donation Program is here to help you during tax season and every season.   Visit us online at www.cars4causes.net or give us a call.  We look forward to helping you!

 

#tax #donate #car #support #charity #usedcar


[1] http://www.irs.gov/pub/irs-pdf/i1040sca.pdf

[2] http://www.bouldershelter.org/donate.impact.html

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Jan 23 2015

What do Cars 4 Causes® and the Miss Universe Pagent have in common?

Cars 4 Causes® and the Miss Universe Pageant have alot in common. Cars 4 Causes® is “The Charity That Gives to Charities.”®   Through our vehicle donation program we support a myriad of charitable causes which are as diverse as the Miss Universe contestants themselves.  We support causes such as animal rights, homelessness, education, children and families, disease prevention, domestic violence and substance abuse.

The Cars 4 Causes® mission is to “…support and honor all charitable causes….we serve the charitable community by sharing our resources with youth oriented organizations, as well as supporting other non-profit, educational and religious groups and the myriad of causes they believe in and work for.”

Like Cars 4 Causes®, the Miss Universe Pageant supports the fight against HIV/AIDS.  For the last decade, every Miss Universe title holder has traveled the world raising awareness for HIV/AIDS prevention, HIV testing and access to medical care.  Cars 4 Causes® supports a number of charities across the United States dedicated to the fight against HIV/AIDS, You can see this list by visiting our Supported Charities Directory at http://www.cars4causes.net/supported-charities then sort by category:  AIDS Research & Support.

Cars 4 Causes and Miss Universe

Cars 4 Causes and Miss Universe

Cars 4 Causes® is a dedicated team of individuals who have made it their business to provide a platform for people like you to donate cars and turn them into cash to support charity.  Your donation qualifies for a tax deduction and you can choose a charity to benefit from your donation. Our aim is focused and dedicated to helping you support the causes you care about.  We are equally committed to raising awareness for these charities and the causes they represent. This alliance provides you the ability generate funds, through vehicle donation, to aid and support your community.

Like Cars 4 Causes®, Miss Universe contestants are a group of dedicated, goal oriented women who raise awareness for humanitarian concerns with a focus on improving the lives of others.  Once a winner is crowned they make appearances in the media, networks and at charitable organizations.  They spend their reign representing their charitable cause, raise awareness and funds for charitable alliances.

Do you have a car, truck, van, motorcycle, jet ski or boat you no longer need?  Donate it to support the charity of your choice.  Feel free to take look at our Supported Charities Directory.  If you don’t find the charity you are looking for just let us know and we’ll make sure your charity benefits.  Are you a charity looking to generate additional funding through vehicle donation?  We can help you too.  Give us a call at (800) 766-2273 and let us show you how.

There can only be one Miss Universe… but anyone can make a difference!  Take action and donate a car today to provide much needed humanitarian relief for those who are in need and suffering in your community.

The 63rd Miss Universe pageant will air Sunday January 25, 2015 at 8/7c on NBC.

#missuniverse #tax #charity

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Jan 19 2015

Martin Luther King, Jr. and Car Donation

Category: Car Donation FAQ's,Cars 4 Causes,Charity Partners,GeneralJackie Mack @ 1:17 pm

Martin Luther King, Jr. stood for peace, equality and justice, especially for minorities and the socially disadvantaged. He believed that “Whatever affects one directly, affects all indirectly”.  His comittment to non-violence and activism played an integral part in the American Civil Rights movement; and his message consistently urged people to be of service to others.

He challenged each of us to be a part of the change…  “Life’s most persistent and urgent question is, what are you doing for others?”  Today and every day we at Cars 4 Causes® are doing our part to help others.  Our Car Donation Program is the vehicle we use to help you support your favorite charitable cause.  We take pride in our ability to consistently generate, on average, the highest return for your donation.  This results in a higher tax deduction for you and more money for your charity.  Car donation translates to substantial financial support and greater social impact for your community.  Let us help you turn your car into food for the hungry, medicine for the sick and shelter for the homeless.

#MLKday 2015

#MLKday 2015

Today the words of this great man still ring true…“The time is always right to do what’s right”.  Donate a car today to break the silence and take a stand for equality and against injustice.  Car donation is one way you can honor the spirit of this great man and be of service to those less fortunate.   Martin Luther King, Jr. said “Everybody can be great…because anybody can serve.  You don’t have to have a college degree to serve.  You don’t have to make your subject and verb agree to serve.  You only need a heart full of grace. A Soul generated by love.”

#NeverBeSilent … “Our lives begin to end the day we become silent about things that matter”.

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