IRS CODE:
CHANGES RELATED TO VEHICLE DONATION
The tax laws have changed, you can still donate a vehicle
and maximize your tax benefit.
The new tax deduction for a donated vehicle depends on
how the vehicle is used by the charity. A vehicle can be
deducted at fair market value if the charity refurbishes the
vehicle or makes substantial use of the vehicle.
Vehicles donated to Auto Technical are deductible at fair
market value for the following reasons: ATI refurbishes
vehicles for low income families referred by social service
agencies. Families receive a vehicle for the cost of $1.
Auto Technical also offers a mentoring program for people
interested in learning how to do simple repairs, e.g. tune
ups. ATI mechanics work side by side to teach these skills.
Referrals also include families who are on fixed incomes and
need transportation for medical appointments and other
essential life needs. In all cases, donated vehicles are
refurbished, repaired and become first class vehicles.
Vehicles determined to be parts cars are deductible at
fair market value based on the condition of the vehicle
when donated to Auto Technical.
If a donated vehicle cannot be refurbished you will
receive a tax donation receipt of $500. This amount
reflects the new IRS tax code.
However Auto Technical uses your donated vehicle, you
will get a higher tax deduction from us than from a charity
that uses an outside agency to handle the donation or that
does not use your donated vehicle as part of the mission of
the charity.
Auto Technical will provide a post card within 30 days
giving you detailed information about how your donated
vehicle was used and the amount you may deduct on your
income tax.
DO SOMETHING GOOD FOR YOURSELF AND HELP A
FAMILY ACHIEVE SELF SUFFICIENCY. DONATE YOUR VEHICLE TO AUTO
TECHNICAL AND RECEIVE FAIR MARKET VALUE.
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