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IRS Donations to Vietnam Veterans - The Legal Considerations That You Really Need to Know

IRS donations to Vietnam Veterans are not only a great way to extend our help, but these also allow us to enjoy certain tax deductions for the year. But, these tax deductions from your IRS donations to Vietnam Veterans involve certain legal qualifications, wherein your tax statement forms and charitable donations should satisfy. That's why you should always refer to IRS deduction rules for every donation you make.

The population of homeless veterans in the United States today is more or less 40 percent. It's a sad reality, but there's still something that we can do to repay their invaluable services to our country - that's through our tireless donation supports such as our IRS donations to Vietnam Veterans. If you find the time to surf through the internet, you can see that some of these organizations have online donation forms that you can fill-up for your pledges.

Donations could come in three different forms: car donation, clothing donation, and monetary donation. Whatever form your donation might come, it can't be helped that we have to touch legal matters like what is stated in the IRS donation rules.

Under the JOBS law signed by President Bush in 1994, the amount of tax write-off you'll get from your donated vehicle will depend on how the non-profit organization will use it - we're talking about a car donation above $500. You'll only get your vehicle's fair market value if the organization will use it for legal and tax-qualified charity works. If not, you'll only get a total tax deduction based on the gross amount that the charity organization has received when they sold your car.

First of all, the clothes you'll plan to donate should be in an extremely good condition; otherwise, it will not qualify you to get any tax deductions. Most organizations prefer to receive clothing that includes: work or school clothes, sweaters, shoes, and other warm clothing. Remember to always get your receipt from the charity organization that completely states their full organization name, the where and when details of the goodwill donation, truthful and realistic account of your donated used clothing. The IRS 1040 form should also be filled up to place the full amount of your clothing donation deduction.

Financial donations are commonly in the forms of cash, salary deductions, credit cards, and checks. Always keep track of your donations by keeping account statements from any of the examples mentioned (it should clearly state the amount, transaction date, and name of your beneficiary). For small cash donations, non-profit organizations usually give out miniature tokens like button pins - keep it because these are also a reliable record of your contribution.

With IRS donations to Vietnam Veterans, you strictly need to follow the established contribution guidelines and rules if you're really serious in getting the right amount of tax deductions for the year (don't forget to get all the paper works done!).

Fay Salmons writes about IRS donations to Vietnam Veterans at www.greatcharitywork.com

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Donate Your Used Car

So you might be thinking about getting rid of your car or upgrading to a new one. Well you will be glad to know that aside from selling your car or sending it to the junk yard there is another option. This option that not many people seem to know about is known as car donation.

Donating cars is tax deductible which is a great way to save on your taxes. You can get either the Fair Market Value of the car that the charity sells if for or in the case of more expensive cars you might need an independent appraisal. There is a few things you need to consider before you actually donate your car to charity.

The first thing you need to consider is the value of your car. If you have an old vehicle that you can see the ground through the bottom of it. The chances are it is not worth a great deal of money it can actually cost them more money than they make from it. They will still accept the car from you in the spirit of donation but it is really not the right thing to do. Except when dealing with old or vintage cars, their individual parts can be quite valuable.

Also many donation charities have pick up services. The best way to save them more money and make your donation more valuable to them is to drive your car there yourself. Just make sure you have someone to drive you back home or to wherever you need to be after.

Next, get more FREE information on how to donate used cars to your favorite charity, at our blog here: http://www.waukoo.com/cardonation.

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Car Donation - An Introduction

Donating your car is a great way to get rid of your car when you do not have the time to sell it yourself, when you do not think you can get what you want for it, or when your car is just not worth bringing anywhere. Instead of making a couple of hundred dollars on your car or less you can easily and painlessly donate your car and reap the many benefits of doing so!

Why People Donate Cars?

Many people donate their cars because of the reasons stated above: they don't have time to sell it themselves, or they know they can't get much for the car. They also will donate their car to help out a charity and even get a tax benefit from donating their car.

How To Donate Your Car?

There are some very simple steps you can take in order to donate your car. Here are your steps to donating your car:

Step 1: Locate a charity that will accept your car without charging you a lot for removal. Some charities will take your car as a donation and come pick it up for you free of charge. However, it depends on if you have a preference as to what charity you would like your car to go to. The organization or charity must be a 501(c)(3) non profit organization. This is a specific certification non profit organizations receive from the government. If they do not have this, refuse and move on to the next one. If they are not certified you will not be able to get the tax benefits you deserve to get.

Step 2: Once you have chosen a charity to donate your car to, go ahead and donate it. Before you do though, you will have to determine the market value of your car using the Kelley Blue Book. The IRS will expect you to be able to provide them with your car's estimated value when you do your taxes. There is also a publication that the IRS has that will help you determine the value of your car and give you more information on this. Just visit their website to get publication 526: charitable donations. While you are there pick up publication 561: determining the value of donated property. If your car is worth more than $5,000 you must have a professional certify the value of your car.

Step 3: When you donate your car to charity make sure you get a receipt from them. The receipt must have this information on it - the charity's name and tax ID number, the date, your name, and the make and model of your donated car.

Step 4: Make sure you let your insurance company as well as the Department of Motor Vehicles (DMV) know that you have donated your car. Follow the law on what to do with your donated car's license plates and the car's title. Now you can complete the IRS form 8283 and keep it with your receipt and store it away safely for tax time.

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