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Making a charity pledge

В рубриках: Automobile | Автор: admin 09.03.2011

Making a Charity Pledge

If you are want to receive all the benefits that come when you donate large items to charitable organizations, you will need to abide by a number of tax laws. The government has recently introduced new rules to the way that vehicle donation works and is making it harder for people to abuse the system by making false donations. If you are planning on donating your car you will need to know about the new regulations and guidelines set by the government in order to take advantage of the tax breaks that vehicle donations afford.
Some people are mistakenly under the impression that the new rules governing car donations have been set up to prevent people from claiming tax breaks on their donations. This is entirely untrue. While new laws have made it a little harder to claim a tax deduction, you can still be awarded a tax break fairly easily through vehicle donation. The government fully supports charities such as Goodwill industries and The American Red Cross and while they want to make it difficult for people to abuse the system, they also want to make it easy for genuine people to contribute to their running. The new laws make it harder to cheat the system but, despite causing more paperwork, have not effected your entitlement to tax breaks. Understanding these laws is vital if you want to receive the benefits that vehicle donors are entitled to.
The good news is that you do not need to donate your car before the end of the year to receive the benefits before the year is out. The new car donation rules state that you only have to pledge to donate a car to receive the benefits. This means that you can make your claim for tax deductions before the donation has even been finalized. Of course making a pledge is not as straightforward as walking up to the charity and telling them that you intend to make a donation. There is a lot of paper work involved. However, once you have filled in some of the necessary forms, the pledge will be officially completed and you will be free to make your claim.

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