How to Turn Your Old Beat-Up Car Into a Car Donation Tax Deduction

If you're thinking about donating a car to a charity you may want to keep the following tips in mind. A car donation tax deduction can benefit not only you and the charity but a person in need also.

Charities have the option of using donated vehicles for their own use, for providing transportation for volunteers or for charity-related activities such as picking up supplies etc. But more often they will already have enough vehicles and they will sell the auto, truck, RV, airplane or other vehicle from their car lot or through dealers to raise funds for their charity. If the charity uses a dealer they've contracted with, the charity may only receive $50 or less from the dealer when the vehicle is sold.

Changes in the laws limit the amount the donor can receive for a used car donation to the actual price that the charity sells the car or truck for.

If the charity or car donation program is not familiar to you, you may want to make sure the charity is eligible from the IRS to receive tax deductible contributions. Request a copy of the charity's letter of determination from the IRS. This letter verifies the charity's tax exempt status.

Make sure that the charity or car donation center gives you an itemized detailed receipt for your car donation. Keep it in a safe place and file it with your tax return. Non-cash donations can be an unwanted red flag for an IRS audit so make sure you document the value of the car and keep good detailed records.

If you discover that your old used car is worth more than $500 then you as the donor must fill out Section A of the IRS Form 8283 and file it with your income tax return. Make sure you get a written acknowledgement along with the receipt from the charity because you'll be required to do so.

If the charity turns around and sells the car instead of using it for transportation then the charity must give the donor certification that the car was sold at what is called "arms length" between parties who are unrelated. And after the sale report the sale price of the car to you within at least 30 days. The donor's car donation tax deduction will be only for the amount that the charity sold your car for. And if the charity doesn't sell the car and elects to keep it, then it must give you, the donor, a written receipt for the vehicle within 30 days of the date of the sale.

The charitable car donation organization might also be required to provide certification to the donor showing how it plans to make use of or improve or repair the car or other vehicle and also that it promises it won't sell or transfer the car to another person or company.

In the US, the federal government imposes penalties on charities that provide fraudulent acknowledgments or documentation to donors.

If the car, truck or vehicle you plan to donate is worth $5,000 or more, then an independent appraisal is required and you must fill out Section B of IRS Form 8283. You ma have to get advice from your CPA or accountant on how to handle this.

If you think or know your car or truck or other vehicle is worth less than $5,000, you can use the Kelley Blue Book or a little guide book from the National Auto Dealers Association (NADA) to figure out the market value. You can find these guides online or at your local public library. You must use the correct figures for the mileage, date and exact condition of your car - document this as much as possible. Choosing the highest figure listed in the guide for your car model and year without taking into consideration any of the other options and factors will not make the IRS very happy.

Take several current pictures of the car or truck and save all your vehicle receipts for new tires, repair work, or any necessary upgrades to help prove its value.

It's important to remember, that you as the donor, not the charitable organization, are responsible for determining the value the car. It is you who will pay any penalties if the IRS challenges your figures through an audit.

There are many reputable lesser-known as well as the more well-known charities such as Target, Purple Heart, Kidney Foundation, Salvation Army and Goodwill Industries. Centers are located in every state including Massachusetts, California, Minnesota, New York, New Jersey, Michigan, Illinois, Connecticut etc. Some of the charities in some states seem more active in pursuing the donations than others and you'll find more ads.

These are just a few of the best tips you should know about if you plan on donating a car, truck, RV, airplane, boat or other vehicle. Armed with these facts you can start to make an educated decision about whether you want to go ahead and donate a vehicle and get a nice car donation tax deduction.

For more tips on choosing the best charity car donation, car donation program, used car donation or charitable car donation online and offline go to http://www.Car-Donation-Info.com for charity and tax deduction tips, help, facts, reviews, including information on all types of car donation

So, Your Starter Is Just Clicking

Does you starter make a *click* sound when you try to start your vehicle?

Each time you turn the ignition switch to start, does the starter just *click* one time?

That is probably the starter solenoid.

If it goes, *click-click-click-click*, and so on, it may just be a low battery.

A low battery that makes the starter *click* a few times doesn't have enough *juice* in it to turn the starter over to turn the flywheel over to turn the crankshaft over to make the engine start...phew!

A simple way to tell if the battery is at fault is to turn the headlights on and turn the ignition switch to start.

If the lights go out, then the battery is probably at fault.

Course, you'll have to run real fast after you hit the start position in order to see if the lights go out...or have someone out there watching for you.:-)

You can purchase a small inexpensive battery charger at most malls, or parts store.

The best way to use a *trickle* chargers is to charge the batter all night, or all day, whichever pleases you.

You can try charging the battery. If it runs down again, then you need to do something.

Remove the battery terminals from the battery post, if you have the *post* type, and clean the post and the inside of the cable clamp.

If you have the side mount just loosen the 8mm bolt and clean the terminal where it comes into contact with the battery. Clean the part on the battery, too. :-)

Sometimes the battery will build up a lot of corrosion on the outside of the cable clamp.

When this happens, usually, the inside part of the clamp and post will create a hard metallic-like surface.

This stops the flow of electricity from the alternator to the battery.

When you use the battery's reserve, it's gone, no more being put in.

If the vehicle does crank, it will run off the alternator, which ain't good. :-(

If cleaning the post and recharging the battery doesn't solve the problem, you may need a new one.

Don't run to the nearest *convenience store* and buy a battery.

Take your battery to a place that sells batteries and have it checked.

If it is gone to where old dead batteries go, then you will have to purchase a new one.

You may have other problems...like the alternator; the tension on the alternator belt... several things could make the battery be low...did you leave the parking lights on when you parked, to go shopping? :-)

Tommy Sessions has been in auto repair since 1970. He publishes Auto Repair Answers Newsletter so you can learn how to keep your vehicle looking new, running safely and efficiently, while you save money and time...also, learn how to avoid shop rip offs. Don't be at the mercy of the dealerships and auto repair shops...they will have more respect for you.
http://www.auto-repair-answers.com

Key 100% Home Equity Loans Questions

If you need a way to free up the cash equity in your home one way to do so is through a 100% home equity loan. With interest rates as low as they are currently the home equity loan has been a very popular option for getting more cash and a 100% home equity loan takes that even one step further. This type of home equity loan might not be right for you, but you can decide by asking yourself a few easy questions.

How Low is the Interest Rate?

You always want to get a low interest rate on any loan, but this is especially true of a 100% home equity loan. Make sure you can't get a better rate by getting a personal loan or tapping your credit cards. It's highly likely that the interest rate on your home equity loan will be the lowest you can find, but it never hurts to check first and make sure. Go online and request quotes from a variety of online lenders to get a good idea of what their current home equity rates would be for you.

You should also know that by borrowing against 100% of your homes' value you won't qualify for the lowest rates, but the rate should still be lower than that on credit cards and even personal loans. In addition you get a tax savings by taking a home equity loan, so factor that into your decision as well.

What are the Benefits of a Home Equity Loan?

Your personal benefits will be determined by what you use the cash for. If you're paying off high interest credit cards or making home improvements that will boost the value of your home then by all means you should consider a home equity loan. On the other hand, if you want to use the cash to finance a trip around the world or to go on a huge shopping spree then you should probably reconsider. Basically, as long as you'll be improving your financial standing with the proceeds of your home equity loan then it makes good sense for you. If there is no financial benefit then you should forgo the equity loan and simply save for that purchase.

How Long Will You Stay in Your Home?

The length of time you plan on living in the same house can make a big difference in whether or not you want to consider getting a home equity loan. By taking all of the cash out of your home now you are ensuring that there won't be much left if you sell the house in the next few years. Especially with the declining house values you could actually end up owing more than the home is worth.

While it can make sense for some, you should consider carefully before taking a 100% home equity loan. Once you've taken all the cash out of your home equity you no longer have that cushion and you might end up missing it should you have an emergency or even a good opportunity that you would need cash for later. If you're benefiting financially then it could be a good move. In any case you'll want to get quotes from several lenders before agreeing to any home equity loan.

To learn more about 100% home equity loans and even higher leveraged 125% home equity loans please visit the author's website.