The Center for Car Donations would like to remind the Central Oregon community that there is still time to donate a vehicle before the end of the year to receive a 2012 tax receipt for the donation.
Center for Car Donations accepts vehicles, running or not, for local nonprofits like, Neighborimpact, Bethlehem Inn, Equine Outreach, Healing Reins, Abilitree, Heart of Oregon, J Bar J and 88.9 KPOV, among others.
Cars will be picked up at no cost to the donors at their home, work or repair shop. The process takes just a few moments and donors are given the paperwork they will need in order to claim their deduction.
An unwanted car, boat, RV or truck, can be a great way to get a deduction on your taxes. The IRS has taken the guesswork out of determining the value of your donated vehicle as you may deduct the full price for which the vehicle is sold.
The IRS allows you, the taxpayer, to claim a tax deduction of :
- The value of the vehicle up to $500 or
- If the vehicle sells for more than $500 donors are notified by mail, stating the exact amount for which it sold and given a form 1098 B &C for their taxes.
Check with your accountant to determine the exact benefit for you.
Proceeds from the sale of the vehicles are used to benefit the local charity of your choice.
Some of the reasons to donate are: your car won’t run, it is not worth the cost to fix it, you don’t want the hassle of selling it, you’d like to support your favorite non-profit.
To make an arrangement to have your vehicle picked up before the end of this tax year, call the toll-free number 877-411-DONATE (3662) or visit centerforcardonations.com. Representatives will be available until 5:30pm on December 31st to assist you.