Donating your car to charity can result in significant tax savings if you include it in your charitable contribution deduction. However, doing a little planning will ensure that you maximize the tax savings of your donation. The Internal Revenue Service (IRS) requires you to calculate your deduction in one of two ways, depending on how the charity uses your donation.
Donating your car to charity can result in significant tax savings if you include it in your charit
Once you donate your car to a charity, what happens next? Depending upon the charity, your car might go to auction next. In this article you will learn more about the process of donating your car and then
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Learn about tax deductions and how donating to a charity can be deducted from your taxes. In this article you will also learn about filing statuses which are important in understanding more about your tax deduction.
By definition a "Tax deduction is a reduction of income that is able to be taxed, and is commonly a result of expenses, particularly those incurred to produce additional income. The difference between deductions, exemptions and credit is that deductions
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