Top Tax Deduction!
By now, you’re probably used to hearing about how other people benefit from you making a vehicle donation to a charitable organization. This has mostly been viewed as a selfless act of philanthropy and that karma will someday return the favor. However, there’s a little fact that most people tend to overlook. That is, donating a vehicle is a win-win-win situation. The charity wins, the beneficiary (person in need) wins, and you, the donor wins (karma will take effect sooner than you think!).
Don’t feel bad that you’re benefitting from what’s regarded as a selfless act. Profit is not a dirty word and when you start to notice the positive effects that your vehicle donation has on your lifestyle, you’ll definitely agree. For starters, there’s the extra storage space that will be granted with the donation of your vehicle. Having extra storage space will allow for you to cut down on the excess clutter inside of your home.
From a financial standpoint, you get a pretty hefty tax write-off when you donate a vehicle to charity. The tax write-off only applies if your vehicle is worth more than $500. The more your vehicle is sold for, the more you get to deduct on your taxes. With the current state of the U.S. economy, who wouldn’t want to take advantage of this?
If you’re still feeling iffy about using your donated vehicle for your own benefit, you can just use the tax savings and extra storage space to run a homeless shelter out of your own garage. Otherwise, sit back, relax and enjoy the personal benefits as your vehicle is donated for a worthy cause.