Donating Your Vehicle to Charity May Not Be a Taxwise Decision

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Donating Your Vehicle to Charity May Not Be a Taxwise Decision

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June 13, 2019 ,

charitable vehicle donation

You’ve probably seen or heard ads urging you to donate your car to charity. “Make a difference and receive tax savings,” one organization states. But donating a vehicle may not result in a big tax deduction — or any deduction at all.
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Vehicle-Expense Deduction Ins and Outs for Individual Taxpayers

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March 12, 2019 , , , , ,

vehicle expense deduction

It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return.
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