31st
January
2008
Car Donations
Car donation makes up the practice of turning over no-longer-wanted cars and trucks to charitable establishments. In the U.S.A., charitable contributions allow for a tax break; in and of itself, this type of contributing has become very fashionable. For appraisals less than $500, the amount of the tax write-off derives from the donor’s personal appraisal of the automobile’s value, even if the charity gets lower profit from actually selling the auto. Tax deductions for contributions above this sum are limited to the sold value of …
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