With tax season just around the corner, and accountants busily working through the expenditures and expenses of their clients from now until April 15th, the interest and impulse to claim charitable donations has increased. For the charities that benefit from you donating your car, this is really good news. They depend upon the generosity of individuals who support their causes and the services Donate a Car who make those contributions so easy and effective. But the giver benefits from car donation as well, on many levels. Here are the top five benefits to YOU, when you choose to donate your car to charity.
1. Financial Benefit
Everyone’s taxes are different, it’s what keeps many accountants employed and the IRS running, so whether your car donation will benefit you or how much it will benefit you isn’t certain, but the fact is, charitable donations of any kind, whether direct or indirect, are a benefit to you at tax time. Discuss your options with your tax preparer, and be prepared to file an itemized return, which the IRS requires in order to count a car donation as a charitable gift.
2. Lower Insurance Premiums
If you aren’t using the older car sitting in your driveway, do you really want to keep paying the insurance premium for it? Many states require that you pay for insurance on your vehicle, even if you don’t drive it. There’s no point in spending the money on something that you don’t even use. By donating your car, you are giving yourself extra money in your wallet every month from a lower insurance payment.
3. A Cleaner Yard
Let’s face it, too many cars just don’t look good in any yard. When you have more vehicles in your space than the space was designed for, it starts to look really cluttered. You could store your extra car or truck in a locked storage facility, but that’s just an extra expense every month. Why not send that car or truck on its and benefit three different people? You, the new owner, and the charity who will benefit from the sale?
4. Increased Happiness
Research shows that making a charitable donation can increase happiness in the giver. There’s something very satisfying about helping someone else, in knowing that you’re making a positive difference in someone’s life, even if you never meet them. In a world that sometimes seems obsessed with selfishness, the ability to give is a treasure and you’ll find that being generous offers its own reward in satisfaction and emotional well-being.
Did you know that donating to charity can actually lower your blood pressure? It’s also been linked to lower stress levels, decreased risk of depression, and a longer life. It appears that the urge to give, to help, and to ease someone else’s burden is hardwired in us to make us happier, healthier people. Give it a try and see if you feel better too.