To receive a tax benefit in return of a donation is cherry on a cake , as for your life peace you tempt to do some donation whether it is related to some of your old jewellery , some precious ornament or an old car . Generally , people look for some donation options at places like USA , Canada and Australia .In USA , people prefer to donate to agencies like Kars4Kids , Goodwill and Habitat for Humanity etc.
Kars4Kids is a reputed organisation which works as a charitable trust in USA that works for the welfare of poor and needy kids in USA and Worldwide . People there in USA make donations to this organisations in the form of their unusable old cars . In return, those make charity to Kars4Kids they receive a tax credit or a tax benefit whey they file their tax return with the US revenue department . For those who are still confused whether , Kars4Kids is a trusted organisation to Donate car for tax credit in USA or not and when can the tax credit be obtained . To solve all your queries , you will get to know more about Kars4Kids and whether to donate to the organisation or not .
What is Kars4Kids ?
Kars4Kids is a registered Non profit organisation registered under the regulations of 501(C)(3) of the Jewish organisation rules . The organisation works for helping children for helping them secure their future and get good food and nutrition when they need it the most. The organisation works in coordination to all people who in good faith want to donate either their car , boat or some vessel or some real estate to the organisation to do some good deed and receive a tax benefit in return .
How Kars4Kids receive donations for Kids against car in USA ?
Like any other non profit organisation , Kars4Kids works in a natural way for receiving , evaluating and valuing the price of the old car or the asset donated to Kars4Kids for charity. The organisation receives online queries from businessmen man , household people and several other organisations as a donation to help needy kids receive a decent amount of money to get themselves helped with good nutritious food and education facilities.
To donate a car or any other asset to Kids4Kars for donation , you can proceed with the following procedure :
- Go to the official website of Kars4kids .
- Select the vehicle and model you want to donate .
- Click on Donate now.
- Enter your Personal details and the Vehicle details .
Once the information is submitted , the team of Kids4Kars will contact you to complete your donation with the paper work . And the organisation will also provide a tax credit ticket to the donator against which tax credit can be availed by the donator and taxpayer against such donation .
Is it good to donate your Car in USA to Kars4Kids ?
Kars4Kids is a trusted and a registered organisation , on which you can trust and do donation of any asset or any vehicle . It is a matter of return that you can receive some value of tax credit against your donation to the organisation based on the valuation of the vehicle provided by the organisation to the tax authorities or by releasing a tax deduction certificate .
How much tax benefit can be received from Kars4Kids for Car donation in USA ?
There is a limit of tax benefit provided on the official website of KarKids where if you sell your old car or an asset for a value of 500$ then you will receive a tax credit of complete amount of 500$ and for a value of asset donated for a value above 500$ to Kars4kids , then the tax credit bill will be released by the organisation for an amount at which the asset will be realized by the organisation .
The tax receipt for donation will be provided within 3 to 5 weeks and at the time of donation a temporary receipt is provided to the donator .
What can be donated to Kars4Kids to earn tax credit for Car donation in USA ?
These following assets can be donated to Kars4Kids for receiving a tax credit online :
- Cars
- Boats
- Real Estate
- Other high value asset above 500 $.
Alternatives to earn tax credit other than Donating to Kars4Kids in USA
Other than Kars4Kids , you can also consider for a higher tax deduction or tax credit for donating your car in USA :
- Habitat for Humanity
- Ronald McDonald House Charities
- The Salvation Army
- Goodwill
- Canine Companions for Independence
How to contact team of Kars4Kids for donation of Car in USA ?
If you want to donate your old car or your old house for the benefit of the kids or to sponsor any child welfare event through donating Kars4Kids , then you can contact the team of Kars4Kids through the following contact points :
- Kars4KIDS Call Support – 1.877.527.7454
- Kars4KIDS Live Chat Support
- Headquarters – 1805 Swarthmore Ave Lakewood NJ 08701 .
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Overall , Kars4Kids is an organisation that supports educational and youth programs for which the organisation receives donation from multiple organisations and individual which donates their old cars or real estate . The fair market value of the asset will be calculated to provide a tax credit to the individual donator. In order to receive tax credit , it is better to consult a tax professional before or an accountant or directly to the support team of Kids4Kars.