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Showing posts from August, 2020

California Boat Donation FAQ's

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The California coastline goes on for miles. Such a distance means there are a lot of boats in this beautiful state. All along California, there are thousands of boats sitting in Harbors and marinas not being used. From Lake Tahoe in the north to Lake Elsinore in the south, there  are many popular boating lakes in the golden state.  If you found yourself to be like one of the many California boat owners who are looking for a way to get rid of your boat, a  California Boat donation  may be right for you. Charitable boat donations  are a great way to give back to the community, but the process is not as simple as some may think. With planning, research, and the advice of a trusted tax professional, you can be on your way to making a meaningful impact on the community. The rewards can be two-fold. The  tax deduction  you can receive, in most situations, is more than what you would get for it than by selling outright. Make sure you do your homework whe...

California Car Donation Made Easy

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To  donate a car in California,  you first begin by submitting an online car donation form or by calling the charity directly. If you would like to claim the car donation as a  tax deduction , make sure to check that the charity is an  IRS recognized nonprofit organization , like  Giving Center . The process of getting your tax receipt for a charitable donation may vary by the charity. Some charities will email you the receipt while others often have the tow truck hand over the receipt at the time of pick up. Remember, this is just an initial receipt witch will enable you to claim a  tax deduction  of up to $500. Check-in with the charity to find out their procedures for providing you with this receipt when you submit your vehicle donation form. In California, the license plates will remain with the vehicle, so do not remove them before your pickup. File a Release of Liability with the  California Department of Motor Vehicles . This document will ...

Easy How-To For Desktop Donation

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  The progression of computer technology has given us more powerful systems at lower prices. Every time we buy an upgrade or new model, we are left with a used computer that may no longer meet our needs. You may just store that used desktop computer system in an out-of-sight location like the closet or basement. There are better solutions, particularly if the computer in question is still working and is less than five years old. A computer donation to a nonprofit organization, like  Giving Center , maybe the right choice for you. Desktop computers that are older than five years may be able to be donated, however, charities tend to take these on a case by case basis. It also tends to become increasingly difficult to find software for old systems and, with the number of computers being donated, some charities no longer need to accept slower machines. Here are a few tips to keep in mind: Create a brief description of the desktop computer including brand, processor, hard drive cap...

5 Steps To A Charitable House Donation

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For some, donating a home is the ultimate act when it comes to charitable giving.   Home donation   is a single action that can enhance the lives of whole families, possibly creating ripples for generations yet unborn. If you find yourself thinking about making such a significant donation, it is important to do your homework. The benefits of donating your house Donating your house comes with a lot of benefits not only to the charity of your choice but to you as well. Here are important things to consider: Get a major tax deduction:  This one is usually the biggie. You may be able to use the cost basis of your home (the original value when you purchased it) as the amount of your  charitable tax deduction . This will allow you a deduction of up to 60% of your AGI (adjusted gross income). If you decide to take your deduction based on the appreciated value, the value of your home right now, your charitable deductions are limited to 30% of your AGI. It can be a bit compli...