Rules on Vehicle Donation Set to Change
Charity officials are bracing themselves for new rules on car donations that they feel will deter people from donating. The new law will allow donors to write-off $500.00 more than the amount of money the vehicle is sold for.
That´s a change from previous regulations that allowed the donor to deduct
the fair market value of the car. Representatives of several charities say car donations have been a boost to their bottom lines, but they believe the new rules cut that in half. Some — like the Sacramento S-P-C-A — are urging donations before Saturday while the more generous tax break is in effect.