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Tax Tips for Individuals

2018
Jan-08-2018Tax Cuts and Jobs Act -- Individual Provisions
2017
Jan-14-20172017 Income Tax Updates
2016
Aug-19-2016Installment Agreement FeesMar-29-2016Where Is My Refund?Feb-10-2016How To Make Your Children "Pay Off" at Tax TimeFeb-05-2016IRS Payment OptionsFeb-01-2016Choosing the Right Filing StatusJan-22-2016Choosing the Right Tax Forms and Who Should File
2015
Sep-09-2015IRS Payments Made Easier (but not painless)Sep-09-2015IRS Reminder--Report Name ChangesSep-04-2015Affordable Care Act EstimatorsSep-04-2015College Tuition Tax CreditsSep-04-2015Tax Tips --DivorceJan-23-2015IRS Payment Plans / Fresh Start Program
2014
Dec-31-2014Affordable Care Act Tax provisions for 2014
Current
Oct-02-20135 Tips for Early PreparationOct-02-2013Amended ReturnsOct-02-2013Ayuda en EspanolOct-02-2013Car DonationsOct-02-2013Charitable ContributionsOct-02-2013Check Withholding to Avoid a Tax SurpriseOct-02-2013Credit for the Elderly or DisabledOct-02-2013Deductible TaxesOct-02-2013Deduction of State and Local TaxesOct-02-2013Earned Income Tax Credit for Certain WorkersOct-02-2013Filing an ExtensionOct-02-2013Filing Deadline and Payment OptionsOct-02-2013Foreign IncomeOct-02-2013Gift GivingOct-02-2013Marriage or Divorceā€¦Oct-02-2013Refinancing your HomeOct-02-2013Refund, Where's My Refund?Oct-02-2013Selling your HomeOct-02-2013Tax Credit For Plug-in Electric VehiclesOct-02-2013Tax Incentives for Higher EducationOct-02-2013Ten Ways to Avoid Problems at Tax TimeOct-02-2013The Tax Advocate Service, provided by the IRSOct-02-2013Tips and Taxes

Car Donations

Date: 10/2/2013

The IRS reminds taxpayers that specific rules apply for taking a tax deduction for donating cars to charities If the claimed value of the donated motor vehicle, boat or plane exceeds $500 and the item is sold by the charitable organization, the taxpayer is limited to the gross proceeds from the sale.

People who want to take a deduction for the donation of their vehicle on their tax return should take quite a few steps, but here is the most obvious:

Check that the Organization is Qualified.

Taxpayers must make certain that they contribute their car to an eligible organization; otherwise, their donation will not be tax deductible. Taxpayers can search Publication 78 online to check that an organization is qualified. Publication 78 is an annual, cumulative list of most organizations that are qualified to receive deductible contributions. Publication 78 is also available in many public libraries. In addition, taxpayers can call IRS Tax Exempt/Government Entities Customer Service at 1-877-829-5500. Be sure to have the organization's correct name and its headquarters location, if possible. Churches, synagogues, temples, mosques and governments are not required to apply for this exemption in order to be qualified.  Please contact us if you're considering a car donation for your tax return!

Stop in our offices in either Warren, Michigan, or Richmond, Michigan, to learn more.