You might have a truck that is currently not necessary. You could simply leave it sitting around where it would continue to depreciate in value. Alternatively, you could have your car sold for a profit. However, if you wold like to contribute to society through a donation, you will not only be able to further a cause by donating your truck to that organization, but you will also receive tax deductions. To receive a tax benefit, you will need to donate to a qualified charity.
War Veteran's Organizations
War veteran's organizations can take trucks as donations. Some organizations provide career transition services, educational services, free or affordable healthcare, and an opportunity to connect with other soldiers in the area. There are also non-profit organizations that serve soldiers while they are on their tour of duty, such as the entertainment and recreation services provided by USO.
Non-Profit Cemetery Organizations
Non-profit cemetery organizations can take trucks as charitable donations. The types of non-profit cemeteries include those that are owned and operated for the benefits of their members and those that are chartered specifically for burial or cremation, also known as crematoria. These organizations cannot engage in any other business than what they are chartered for or they will lose their qualified status.
Fraternal associations, societies, and orders can receive charitable donations for tax purposes. These are organizations that are brought together by a mutually beneficial purpose, such as the pursuit of education. These organizations are often used for networking purposes.
Governments can be considered to be qualified charitable donations if the money that is donated is earmarked specifically for charitable purposes.
Foundations, Trusts, And Funds
Foundations, funds or trusts that are devoted to certain purposes can be used for tax deductions. This includes:
The prevention of cruelty to animals or children
Tax-Exempt Vs. Qualified Charities
If an organization is tax-exempt, this does not necessarily mean that the organization is a qualified charity. Tax-exempt organizations simply do not have to pay any taxes. Qualified charities are organizations that can be used to make charitable deductions.
Identifying Whether A Charity Is Qualified
Fortunately, to make the process easier, the IRS has created a database that includes all of the qualified organizations. Therefore, even if you aren't certain of the type of organization a charity is, you can verify that your donations can be deducted by asking them.