ONATE A CAR IN MARYLAND
Cars are automobiles used to move from a place to the other. Before the invention of cars, some animals were used to transport from a place to the other. Examples include horses, donkeys, camels etc. The first car was developed in 1808 by François Isaac de Rivaz. It was powered by an internal combustion engine fuelled by hydrogen. Thereafter, in 1885, Karl Benz developed petrol powered automobile. Since then, modifications have been made on the production of cars by the different car companies. Examples include Jeep, Benz, Datsun, Mini, Mercedes, Toyota, Honda etc.
Cars can be acquired new or second-hand. This depends on the budget of the consumer. The lifespan of cars is about 8years, although some exceeds this time depending on the maintenance. However, cars are changed from time to time by the consumer either for luxury, to help the needy or to reduce the cost of maintenance.
Maryland, a state named after the English Queen, Henrietta Maria of France; located in the Mid-Atlantic region of the United States. The state’s largest city is Baltimore, and its capital is Annapolis. The languages spoken in Maryland include English, Spanish, French and Chinese. In 2015, Maryland had an estimated population of 6,006,401.
Charity organisations are non-profitable organisations (NPO) established solely to ensure wellbeing of the general public. The aims, goals, regulations, tax treatment and so of these organisations vary between states, countries, regions and continents. These organisations depend mainly on donations from businesses and philanthropists in the society to cater for the wellbeing of their people. A charity organisation must be registered with the state to ensure it is real. Charity organisations can be established to reduce poverty rate, advance education, religion health, community development, arts, culture, science, sports, environmental protection, animal welfare and so on. Examples of charity organisations include Charity Navigator, American Red Cross, American Rivers, Coral Reef Alliance, Children’s Disaster Services, International Rescue Committee and so on. There are some organisations that help regulate the activities of these companies. For example, United States Internal Revenue, Canada Revenue Agency, Inland Revenue Department etc.
Donating a car can be to a family member, friend and church or charity organisation. Donating a car is easier, time saving and also cost-saving. The costs that are incurred like advertising fees, cleaning and repairs to boost value and towing fees are avoided.
Donating a car in Maryland can be to any of the numerous charity organisations like American Breast Cancer Foundation, Associated Catholic Charities, Santa Claus Anonymous, Walker Cancer Research Institute and so on. One of the advantages of donating to a charity organisation is the Convenience. The car donation process involves no stress, like, giving strangers your personal information, meeting with people to view the car, allowing test drives or placing and answering ads. The charity organisation after being contacted handles the rest.
Furthermore, there is no cost attached to the donation. To sell or haul off a car, some extra costs are incurred like towing fees, advertising fees, cleaning and repairing to boost the value and so on. Rather, donating a car to charity is free as the charity organisation takes its responsibility.
In addition, donating a car to charity allows a tax deduction of at least $500 or getting the full fair market value of the tax depending on the person donated to.
Moreso, the ultimate reward for donating a car is to help families in need. The feeling of pride and fulfilment for giving out will be achieved.
Also, the cars donation to these organisations will help transport volunteers and supplies to areas that need help.
However, there are some disadvantages attached to the donation of cars. One of this is the Issue of Fraud and Misrepresentation. Most of the organizations are for profit intermediaries that give little contributions to a participating charity. Although, individual car donators can reach to the public through the Internal Revenue Service auditors to ensure their safety.
Tips on Donating a Car
Before donating a car to a charity organisation, some measures must be put in place to maximize the benefits to charity and minimize the risk to one. These include:
Read up books that can help you in valuing the car.
Find a suitable charity organisation. The organisation must have a non-profit status. Also, there are some organizations that evaluate and rate charities for efficiency in their different specialities. You can employ their services like CharityWatch.
Inquire if the charity accepts car donations directly without involvement of a third party. If possible, you can drive the vehicle to the organisation without using a towing or pickup vehicle. This will allow the organisation keep the full price of the proceeds from the car.
Also, it will help to save money and to ensure the organisation is real. Ensure you sign over the title of the car to the charity organisation and that one of their representative signs as well.
Ensure the charity organisation is eligible to receive tax deductions. This can be done by asking for a copy of the records of the IRS letter which signifies the tax exempt status.
Get a receipt from the charity organization of the vehicle and thereafter a document certifying the selling price of the car. This should be given within a maximum of 30 days.
Remember the donor, not the charity organisation is supposed to value the car and also ensure the figures are accurate to avoid paying penalties from the IRS.
Filing of important documents is necessary especially if deductions will be claimed on the car.
These tips above will help you achieve the aim of donating a car to the organisation.
In conclusion, Donating a Car is an act of giving or contributing the wellbeing of the needy in the society. If you are in Maryland, look for a suitable organisation that the commodity will be useful in and extend the commodity to them. However, ensure you read these tips above very well to avoid any future regrets.
ONATE A CAR IN MARYLAND