Will Tax Law Destroy Your Business Vehicle Donation to Charity?

You also want to get a hefty tax deduction for making the donation.

Well, be careful! The laws that govern such transactions are tough and you’d better do some calculations before you hand over the keys.

We’ll tell you how to avoid trouble before it starts when you read my new article titled Tax Tips: Will Tax Law Destroy Your Business Vehicle Donation to Charity?

Here’s just some of the important information
we’ve got waiting for you:

A key reason why your deduction could be disallowed in total. We’ll explain the relevant tax rule when you read the full article.
When a cash sale followed by a cash donation fails. Thinking of selling your vehicle for cash and donating that cash to charity? Depending on how you treated your vehicle in your business, this could produce a reduced or even a zero deduction. You’ll find out why when you read the full article.
Why you should never donate a fully depreciated vehicle. It’s a very bad idea as we’ll explain when you read the full article.
How to donate a partially depreciated vehicle. We’ll show you how to make an important calculation when you read the full article.
What you need to know about IRS Form 1098-C. It’s the form you receive from the charity and the form that determines your tax strategy. All will be explained when you read the full article.
When the law makes you get an appraisal. The law is quite clear on this as we’ll explain when you read the full article.