In this post you will find some tips on car donation in California and you should be aware of some specific requirements related to California car donations.
1. To donate a car in California, you start by submitting an online car donation form or by calling the donation you want to donate your vehicle. If you want to claim car donation as a tax deduction, make sure that donation is an IRS recognized non-profit organization
The process of obtaining a tax receipt for your charitable donation can be different. Some donations will email you an initial receipt, while the tow truck will give you the receipt at the time of pick-up. This is just the initial receipt and enables you to claim tax deduction up to $ 500. When you submit your vehicle donation, you should check with your donation to know what their procedure is to provide this receipt.
In the state of California, the license plates live with the vehicle, so they should not be removed prior to pickup.
Registering a release of responsibility with the California Department of Motor Vehicles is an important step that you do not want to miss when donating a car. This document frees you from future liability, which can be generated for any reason after the donation of the vehicle. The process of issuing responsibility in California is That you have to return the pink part of the title or DMV form REG 138 to your local motor vehicle department. Alternatively, you can file your release of online liability at http://www.dmv.ca.gov.
If your vehicle sells for more than $ 500, or if it qualifies for a reasonable market value tax deduction, after the sale of the vehicle, you will get extra tax paper work. The amount to be deducted on your taxes will vary depending on a number of factors, in which the vehicle can be classified as the price sold or the appropriate market value car donation.
One last thing that we should mention is that if you are planning to claim deduction by donating your car on your taxes, then you have to make sure that you have a good car before the December 31, 2012 deadline. Donate from The donation must have the right of the vehicle before December 30, or at least the pick-up in the work is well, on December 31,
So that you can claim your tax deduction in 2012. Do not wait for the last minute as the delay may occur, as a result you may be unable to claim donations as a deduction for current tax year.
If there are any other questions related to deduction of your car, most of the donations are relatively knowledgeable about process and paperwork, however, you should consult a CPA or accountant for specifications about your particular tax situation.
For additional questions related to car donation in California, you can contact your local DMV or visit the California DMV website for the latest information on state specific requirements.
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