Which Car Charity To Donate To?
The government itself usually classifies LLCs as corporations and this is how they are usually taxed. But doing so may disqualify them from the full benefit of a LLC tax deduction.
However, this is not what usually happens. In most instances, the dealer will try to buy the car from you at a lower price than they expect to get when selling it at an auction. When you donate your car to a charity, not only will you be turning it in for a good cause, you may also get a deal which is better than what you would find from a dealership. Many people don't realize that donating their car to a charity can allow them to get a tax deduction during tax season. Not only can you use it as a tax write off, you will often earn money that is significantly more than what you would get from most car dealers.
All of this was news to the Internal Revenue Service, the agency charged with actually trying to implement the strange stuff coming out of the government. To give you an idea of how this was truly a last minute move, the IRS had already prepared and sent out tax forms for the 2006 fiscal year. The agency is now desperately trying to alert taxpayers that some of the forms may be wrong given the last minute legislation. Talk about a printing bill!
People like Microsoft founder Bill Gates and Berkshire Hathaway Chairman and CEO have donated most parts of their wealth to work for the cause of the poor and the needy across the world. From Sierra Leon to Bangladesh these projects are bringing hope in the lives of millions. You won't be alone giving for this cause but will be in the elite and noble company of thousand others. What can make you happier that serving the cause of humanity with charity? goodwill cars to work will also earn the blessing of thousands of people doing so.
Probably more than at any other time in the last fifty years, people are conscious of the need to recycle items and, as money is short, a lot of people satisfy their need to contribute to charity with superfluous clothing instead. In the days when families were bigger, clothes were recycled by handing them down, but in these days of 1.4 children, there is no one to pass them on to, apart from the charity shops.
The crucifixion of Christ - The greatest act of charity is to give one's life in order to save another, and that is exactly what Jesus showed Man when he gave his own life in order to save us from our sins.
Think about giving gift cards for a new twist on giving. While you are going to choose the amount to gift and you are going to personalize the charity gift cards, the person receiving this gift is going to go online to choose their very own charity. You give them the freedom to have your gift of charity to them go to the charity that means the most to them. They can even split the money you have gifted to them among a few different charities if they hold more than one close to their heart.
Avoiding intermediaries or middlemen is a good idea. There are various organizations that offer to 'help' you in your wbez/donate. The problem usually is that these middlemen take a cut of the value and give the rest to charity. The charities and you both get a raw deal. To avoid this, visit the charity and donate the car in person.
The fact lowering taxes stimulates the economy is more than a philosophy, it has been proven to work on many occasions. So, it seems the argument for higher taxes is an argument in favor of stronger government control. This however, is slightly off the topic of tax deductions and so, will be left to discuss on another day.