#302 The Benefits of Donating Your Vehicle
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Donating your car for a tax write-off while contributing to charitable causes that benefit children is a win-win situation with far-reaching benefits. Firstly, it allows you to make a positive impact on the lives of underprivileged children who may be in need of educational support, medical care, or other essential services. Your donation can provide them with opportunities they might not have otherwise had, helping them break the cycle of poverty and build a brighter future.
On the financial front, donating your car can lead to significant tax benefits. By itemizing your deductions, you can claim the fair market value of your donated vehicle as a charitable contribution on your tax return. This deduction can potentially lower your tax liability, putting more money back in your pocket. Furthermore, it simplifies the process of parting with an old or unused vehicle, eliminating the need to spend time and money on selling it.
CEO Colin Weatherwax joins us for an in depth conversation about how the donation program works as well as the fascinating history of the Texas auction house that gets it done !
