Aug 21 2009
Missed Cash for Clunkers? 2009 is Still a Good Year for a Car Donation Tax Write-off
Whether you’ve missed the Cash for Clunkers opportunity because your car did not qualify or because the program closed before you were ready, you can still take advantage of some great tax opportunities in 2009. This is one of the best years in recent history for car donation tax deductions.
We’ve been talking about this ‘double-tax’ advantage for the past couple of months. See our July blog, Cars 4 Causes® Adds it Up: Two Automobile Tax Deductions this Year! And it’s still a terrific opportunity. 2009 is – quite simply – a great year to donate a car to benefit your favorite charity.
A quick recap of those tax write-offs:
2009 Special Sales Tax Break for New Car Purchases. Equal to the sales and excise tax on the purchase of a qualifying new vehicle, this tax break is available even in states with no sales tax. (See the government’s program rules to see if you can benefit through this program.)
Tax Deduction for Your Car Donation. This is not just a 2009 opportunity. It’s every year. Call Cars 4 Causes® for more information (800.766.2273).
When you donate a car, you choose the charity that benefits, and isn’t it nice that you get a tax benefit, too!
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