Sunday, December 18, 2011

When I donate a car to charity, it is tax deductible, what exactly does that mean?

will i be getting cash then or does it just reduce my taxable income by the amount the car is worth or does it reduce the amount of taxes I owe the next time I file my taxes in April. How does one determine the amount the car is worth if was not actually sold. can anybody out there speak from experience???

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