Giving a truck to charity is a great alternative to selling. There are thousands of people in need in this country, and charities depend on the kindness of caring individuals to aid the less fortunate. Many events such as auctions are held often wherein the donated trucks, cars, and other vehicles are sold for charitable proceeds. Those who don’t have unwanted vehicles to donate can still contribute to the needy by attending the events and buying one of the used vehicles. The money, of course, will go toward services and programs of organizations such as Goodwill Industries®.
Just as long as donors make absolutely certain that the truck donation program to which they’re donating is legitimate, then the procedure should go well.
Here are some tips for those who wish to donate a truck to charity:
• Check to make sure that the charitable organization is qualified to receive tax deductible donations and contributions. Those wishing to donate to Goodwill Industries or Red Cross don’t need to worry so much about this.
• Be aware of the fact that non-cash contributions can lead to the IRS getting suspicious, so much in fact that they may even conduct an audit. For this reason, those who want to donate a truck should document its value and request a copy of the receipt after it’s sold through the charity event.
• It’s the donor’s job to get the truck professionally valued. If the IRS finds the figures on the paperwork to be inaccurate, they will go after the donor—not the charity.
Following these tips will ensure that everything will go smoothly for those wishing to donate trucks.
