I live in the area impacted by Harvey. Thankfully, my house was not damaged. I consider myself to be extremely lucky, as many around me have lost everything.
I have a vehicle that I had been planning to sell in the next month or two, but now would like to donate it to someone impacted by Harvey. What is the best way to do this? I know there are several car donation charities in the area, but I've always gotten a slimy feeling from them.
I'd rather donate directly to an affected person without there being a middleman to take a cut. If I gift a car to an individual, can I claim it as a charitable contribution on my taxes, or must it go through a charity? Are there charities that take donated cars and give them directly to individuals in need, as opposed to sending them off for auction (and thus, paying a fee to the auction house)?
If I can't find a charity that does this, and gift the car to an individual, how would that work? I sign the title over and they will need to submit an affidavit stating the car's value when registering in order to pay taxes on that value, correct? Any way to minimize these taxes?
Any other thoughts on the best way to handle this? My main priority isn't the tax deduction, it's getting the car to someone who needs it and isn't trying to just make a profit on it.
Submitted August 31, 2017 at 11:08AM by UsernamIsToo http://ift.tt/2xPwBxL
