September 21, 2007, Newsletter Issue #74: How Charities Use Car Donations

Tip of the Week

Find out how charities plan to use car donations. What the charity does with the automobile donation affects the tax deduction a donor can claim.
If the charity resells the vehicle, the donor can only deduct the amount received from the sale. If the charity uses the automobile donation for charitable work -- such as providing meals on wheels to shut-ins -- the donor may claim the fair market value of the vehicle.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Car Donation Tip Site? Request a Tip Now!

Guru Spotlight
Joe Wallace