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Suprising Facts About Car Donation

Kars4 Surprising Facts About Car Donations Car donations are becoming more common, as people are discovering the tax deductions that are available. Many charities run car donation programs, and most vehicles are accepted whether they're running or not. Here's a look at some suprising facts about car donations, which have been gathered from Demographics of Donors 53% Men 47% Women Most Donated Cars 1998 Ford Windstar 27% Men 73% Women * Ford recalled more than 450,000 of its 1998-2003 Windstar minivans because of a rear axle problem. NY CA Number of cars donated per state 226 529 Ford Taurus ** The fourth oldest brand that is sold in the US is the Ford lineup. 44% Women 66% Men Ny CA Number of cars donated per state 354 623 Toyota Camry ** In the United States, the Canry has been fhe best selling car for the last decade. 40% Women 60% Men NY CA Number of cars donated per state 331 516 Honda Accord * H was the best- 43% Women selling Japanese car in the 0.S. for fifteen years; from 1982 to1997. 67% Men Most Donated 20-Year-Old Car 1991 Toyota Camry * In 1991 there were over 260,000 Camrys sold in the 0.S. Donation FAQS Deparmont of th 1040 U.S. Individual 1-De A 2005 tax law states fair market value is no longer the primary determinant for tax deductions for a car donation. An individual mast itemize deductions. Less than 50% of Americans itemize, so this law limits the number of people who receive the deduction per annum. Home ade (number and stre The amount of deduction is based on gross sale price of a donation. If that does not exceed $500, it is up to the donor to determine Hthe FMV, up to $500. Donation Statistics * The number of federal tax returns reported for used car donations between 2004 and 2005 decreased 67%. 2005 2004 300,000 600,000 900,000 * In 2005, taxpayers reduced their taxes by $654 million, which looks like this: = Each bag depicts $10 million Sources:

Suprising Facts About Car Donation

shared by rmmojado on Jan 24
If you think you know all there is about car donations and tax deductions, then think again. Car donations in the United States have been the source of funds for children's charities that make a diffe...



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