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If you have an old car taking up space in the driveway, but you can’t bring yourself to face the hassle of trying to sell the car in the newspaper classified ads, there’s another way you can rid of it. Contact your favorite charity and see if they are interested in taking the car off your hands. Not only is giving your car away to a charity good for deposit in your karma bank, when tax time rolls around, that donation can help keep some of your cold hard cash in the bank as well by allowing you to take a potentially sizable deduction.

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You’ve been a good citizen all year long, donating your hard earned cash and possession to help you favorite charities thrive. While you love the feel good factor that comes along with your charitable donations, you also wouldn’t mind getting some credit for your good work from Uncle Sam in the form of tax deductions. Turns out that the tax man is almost as generous as you are when it comes to charitable donations and will let you write off a substantial amount – up to 50% of your adjusted income – if you’ve been a big giver. The trick is, however, that you have to have all the paperwork in place. Without the proper documentation, you won’t be able to claim your donation on your tax return.

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