Friday, July 23, 2010
Project Camelot LIVE AND UNLEASHED Pt9of9 WHISTLEBLOWERS SPEAK OUT
http://www.youtube.com/watch?v=O-IJ8vWlaTI&hl=en
Wednesday, July 21, 2010
Car Donation Tax Reduction
Due to unfortunate circumstances you will find that a good number of people who donate cars have been deducting a suggested retail price. This means that a dealer would get something that is below the market value when they decide to resell your trade in car.
This means that when a dealer will sell you car they will give you a certain amount of money so that you can be able to have your tax reduced.
Charities were not also making a lot of money when they were doing their car donation tax reduction. This is the reason why in the year 2005 the IRS changed the rule from what was currently happening to what will be done.
If you happen to have a vehicle that is valued more than $500, the deduction will be limited to the actual selling price of the charity.
Whoever the donor is, they must attach a statement of sale to the tax return in order to receive the deduction. Even if it is the charity, it is obligated to present the statement within thirty days.
It has been proven that no one can be able to give you your deduction amount before you have donated your car.
The main purpose of charitable car donation tax deduction is to help people know how they should go about when they decide to donate their vehicles to a charitable organization.
In the resent years many people have come to know how to go about donating their cars to the charity and they have also come to know that their donations are improving other people's lives.
It has come to a situation where it is now a fully blown business. In the United States only nearly $650 million was lowered when about quarter million people took car donation deduction on their tax return in the year 2001.
Since then many people have come to embrace the charitable car donation initiative because it is helping many poor people reduce their federal tax return every year.
To find a charity that deals or accepts car donations is very easy. What people should avoid are the Profitable organizations that pose as non profitable charity organizations which are basically out to corn people out of their money.
Learn more about car donation tax reduction at my site. Discover how to donate used cars online.
Monday, July 19, 2010
Charitable Car Donation Centers
The main purpose of charitable car donation is to help people know how they should go about when they decide to donate their vehicles to a charitable car donation organization.
In recent years, many people have come to know how to go about donating their cars to the charity and they have also come to know that their donations are improving other people's lives.
This makes an individual feel good about his/her self because of helping the needy in the society. Over $650 million has been lowered in form of tax because nearly 200,000 people in the United States took a car donation deduction on their tax return.
That was just for the year 2000, Since then many people have opted for this initiative because when they donate a car they are able to settle a part of their federal tax returns and at the same time improve lives of majority of the poor people in the community.
Any one intending to take their cars to charitable car donation centers, should avoid the profit oriented organizations whose main aim I to pervasively handle the car donations.
People who have worked with such organizations in the past confess that the organizations tend to keep almost 50% of the total car's value and there are even those that keep as much as 90% or even more.
This makes the whole idea of giving the money raised after the sale back to the charity seam like one big joke.
So if a donor can by any means find a charity that can handle the whole car transaction by themselves, then they can be able to keep the whole 100% of the profit and by doing so the money goes to help those who need it the most.
After donating the car to the charity of your choice, the charity must then prepare a written statement of what they intend to do with the donated car. If the charity decides to sell the car, then it must sell it at a price that is below market value.
The charity might as well decide to make some improvement on the donated car. This means that the car should not be sold before the said improvements are done.
The agreement about the charitable car donation should be written down with full details of the donor and the charity organization for future references.
Learn where to find charitable car donation centers online. Discover how to donate used cars and get car donation tax reduction at my site.