Donating a car is a best option is one really will to do that. There are two best advantages of donating a car one is that it will leave behind a good space at your garage free of cost so that it can be occupied with a new car and second advantage is that it would end up fulfilling someone needs who is willing to have it but doesn’t have enough money to buy even a old car. The donator can also claim the car donation as a tax deduction to save the taxes.
Below are the steps involved in successful donation of car in California
Donating a car in California starts by submitting an online car donation form or calling the charity one wishes to donate his car. If one wishes to claim the car donation as a tax deduction, make sure to check that the charity is an IRS recognized non-profit organization. The process for receiving the tax receipt for your car donation being done may differ and vary. Some car charities email the donator with the initial receipt while others charities owners have the truck who provide the receipt at the time of car pickup from the donator. Note**This is just an initial receipt and enables you to claim a tax deduction of up to $500.
In California, the vehicles license plates remain with the vehicle, so these should not be removed even after the vehicle pickup thus the donator is required to file for Release of Liability with the California Department of Motor Vehicles. Such document releases the donator from future liability which may arise for any reason after the vehicle is donated. In California the procedure for filing a Release of Liability is that you must return the pink portion of the title or DMV form REG 138 to your local Department of Motor Vehicles. One can also file release of liability online at http://www.dmv.ca.gov. If ones vehicle sells for more than $500, or if it qualifies for a fair market value tax deduction, one can receive additional tax paperwork after the sale of the vehicle takes place. The amount one will be allowed to deduct on your taxes will vary depending on several factors which could include the price the vehicle is sold for or whether the vehicle is classified as a fair market value car donation.