By the way... If you can afford to wait for the tax deduction, why not donate the car to a worthy cause? I donated my car to the National Multiple Sclerosis Society a few years ago, and got FAR more for it than the dealer offered me (dealer offered me $200 for my car. The KBB was $1200. However, the tax deduction is the fair market value of the car when in perfect running order (minus some for repairs). in the case of my former car, the tax deduction was actually around $3800. Meant that after all the deductions, I got back approximately $1300. Just had to wait for the tax returns).
If you're going to donate, call up your donation of choice either today or tomorrow, and it goes on this year's tax returns!!! Even if they don't pick it up in the next two days, they have it on record that you've donated it as of 2003, and therefore it goes on your 2003 return! (means you don't have to try selling it, either!)
I'm pretty sure I earned less than enough to have to pay any income tax again this year, in which case the deduction for a charitable donation can't benefit me if I give it away myself. But if a friend who can use the deduction donates it...
(no subject)
If you're going to donate, call up your donation of choice either today or tomorrow, and it goes on this year's tax returns!!! Even if they don't pick it up in the next two days, they have it on record that you've donated it as of 2003, and therefore it goes on your 2003 return! (means you don't have to try selling it, either!)
(no subject)