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New IRS Rules for Vehicle Donation
By Karen Campese


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Article02.html
Many people in the UK, in fact as many as one in three UK taxpayers have paid too much tax! Greer & Taylor LLP a respected and trusted accountancy service provider has just launched a new website The Taxation People which can be found at www.thetaxationpeople.com the new online tax refund service is dedicated to getting the maximum legal tax refunds for indviduals whatever the circumstances on a `No Win No Fee` basis The Taxation People offer a online service, with a simple and easy to follow process that will guide you along the way as you get the refund you are entitled to. In the `my account` section of their site you can track the progress of your refund application and ask questions using a secure service. I would urge you to check out www.thetaxationpeople.com, where you can enlist the help of the The Taxation People who will get you the Tax Refund you are entitled to. Greer & Taylor LLP will be following up the success of their Tax Refund service The Taxation People by launching a cost effective Self Assesment Service, keep an eye on www.greer-taylor.com for more information.


The new IRS rules for vehicle donation went into effect January 1, 2005. ?The new rules have significantly changed the amount most donors can deduct for their car donation?, according to Karen Campese, CEO of cars4charities, a national non-profit car donation center. ?The old law allowed the donor to deduct the fair market value of their donated car. They were allowed to use a pricing guide such as the Kelley Blue Book or the National Automobile Dealers Association Guide to determine the fair market value of the car.?, says Campese. ?Now, people who donate older, less valuable cars can deduct up to $500.

Those who donate more valuable cars can only deduct the amount the charity sells the car for. In most cases, the amount the charity sells the car for is less than the Blue book amount. In order to guarantee the donor the best tax deduction possible cars4charities now sets a minimum selling price on better vehicles.? According to Campese, "This rule change has resulted in a big decrease in the number of more valuable cars being donated to charity and a big increase in number of less valuable cars being donated."

For more information, news and articles see:

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