Wednesday, April 27, 2005

Local Charity Hurt by New Law

Local Charity Hurt by New Law: "It's been about 5 months since the rules changed for writing off car donations on your taxes. You may recall the 'American jobs creation act,' that saysyou can no longer deduct the bluebook value of a vehicle. I nstead, you have to wait until the vehicle is auctioned off to find out how much you can deduct on your taxes.
Now, 1 local charity saysthat's effecting their bottom line, just as they'd predicted. P eople are still donating pretty decent looking cars to the VOA, but while the cars are nice and shiny, the outlook for the VOA is not."

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