Don't DONATE a Car to Charity?? | Ask a CPA скачать в хорошем качестве

Don't DONATE a Car to Charity?? | Ask a CPA

Why you should not donate a car to charity | Ask a CPA! Today’s question comes from Aaron in Orlando Florida. “I’ve got an old VW bus that I’d like to get rid of. I think it’s worth about $5k. Is it a good idea to donate it to charity or sell it?” When donating an automobile, the charitable deduction you are allowed is subject to special limitations. In most cases, the deduction you are allowed is considerably less than the car’s actual value. Most charities that want your used car will sell it at auction - typically in a bulk auction sale. Your tax deduction is limited to the amount the charity sells the auto for at auction. If you have a question, please head over to our website http://www.askacpa.co and leave a question for us. Thanks for watching! Connect with Brett Philips, CPA Website – http://www.pscdfw.com E-mail – [email protected] Linkedin –   / brett-philips-cpa   Twitter -   / brettphilips   Small Business Guide to QuickBooks Online - https://tinyurl.com/bdcsrsh5 Music provided by Argofox: A Himitsu - Adventures    • A Himitsu - Adventures [Royalty Free Music]   #askacpa #cpa #charitablegiving #charity #501(c)(3) #CharitableContribution #llc #limitedliabilitycompany #smallbusiness #quickbooks #intuit #tax #taxdeduction #section179 #bonusdepreciation #depreciation #irs #assetprotection