subject: Things To Do Before Making Red Cross Donations [print this page] If you have an old vehicle lying idle in your garage, making Red Cross donations is a great idea. This is because Red Cross donations will not only help you dispose off the car and clear garage space for a new one but will also ensure that you get tax benefits equal in value to the fair market value of your car. However, there are a few things which you should do before making Red Cross donations. The first step is to estimate the market price of the car that you are planning to give away as Red Cross donations. Estimation of the price is important as you will get a good idea of what to claim as tax deductions for making Red Cross donations. Moreover, if your car is cheaper than $250, you can make Red Cross donations without worrying about stringent documentation.
However, when the vehicle you want to give away as Red Cross donations has a market value in excess of $500, then you may need to check if there is assistance available as far as confirming the market price of the car is concerned. This is because when you make Red Cross donations and claim for tax deductions in excess of $500, you have to show a proof of the market price of the car. This is why you should get a confirmation letter from the charity for your Red Cross donations, which confirms the use it will be put to and its market price. The process of claiming for tax deductions for making Red Cross donations becomes extremely easy if the vehicle is auctioned off and the sale statement sent to you. But that may not always be the case when you make Red Cross donations as sometimes the vehicle is donated to a needy family or used in rescue operations at crisis sites.
When you make Red Cross donations, you have to also clean up the car to make sure there are no personal belongings left in it. Another step to take before making Red Cross donations is to cancel the insurance. Also, it is important to make Red Cross donations only of vehicles which are in a reasonably good condition to prevent Red Cross from incurring additional costs. When you make Red Cross donations you also have to try and drop the vehicle yourself to save money for Red Cross, although you are qualified for free pickup or towing service for making Red Cross donations.
