Donating your old car, truck, boat, or RV to Cars for Kids is not only a great way to support education for at-risk students, but it may also provide valuable tax benefits. If you donated a vehicle in 2024, you may be eligible for a charitable tax deduction when filing your federal taxes.

However, understanding how to claim your deduction can feel overwhelming, so we’ve created this simple guide to help you navigate the process.

Step 1: Confirm Your Eligibility

To claim a tax deduction for your vehicle donation, the donation must be made to a qualified 501(c)(3) nonprofit organization like Cars for Kids. You can verify an organization’s tax-exempt status using the IRS’s Tax-Exempt Organization Search.

Step 2: Determine the Deduction Amount

The IRS determines your deduction based on how the charity uses your donated vehicle:

1. If the vehicle is sold – Your deduction is the gross proceeds from the sale, meaning the amount the charity receives when auctioning or selling the vehicle. You’ll receive a Form 1098-C from Cars for Kids stating the final sale price.
2. If the vehicle is used by the charity – If we use the car for our programs rather than selling it, you may be able to deduct the fair market value of the vehicle.
3. If the vehicle is valued under $500 – You can deduct the fair market value or $500, whichever is lower, without needing additional documentation.

Step 3: Gather Your Paperwork

To claim the deduction, you’ll need:

• A receipt from Cars for Kids confirming your donation
• A Form 1098-C (if the vehicle was sold)
• IRS Form 8283 for deductions over $500
• Proper documentation of your vehicle’s fair market value (if applicable)

For more details, visit the IRS website.

Step 4: File Your Taxes

When filing your 2024 tax return, include your charitable deduction on Schedule A (Itemized Deductions) of your Form 1040. If your deduction is greater than $500, Form 8283 must also be completed and attached to your tax return.

Reminder: You must itemize your deductions to claim your vehicle donation. If you take the standard deduction, you cannot claim the donation separately.

Step 5: Consult a Tax Professional

Every tax situation is different, and while donating a vehicle can be a great tax benefit, it’s always best to consult a certified tax professional to ensure you’re maximizing your deduction properly.

Why Donate to Cars for Kids?

By donating your vehicle to Cars for Kids, you’re helping students earn their high school diplomas and build a brighter future. Plus, we make the donation process easy by offering:

• Free towing – We’ll pick up your vehicle at no cost to you
• $50 gift card – As a thank-you for your donation
• Hassle-free paperwork – We handle all the details
• Maximum tax deduction – We ensure you get the best possible deduction

Disclaimer: This blog post is for informational purposes only and should not be considered tax advice. Please consult a licensed tax professional or visit the IRS website for official tax guidelines.

(Source: Entrepreneur) At Cars for Kids, we are thrilled to announce that our CEO, Cheryl Sutterfield-Jones, has been highlighted in Entrepreneur Magazine's article, “How Purpose-Driven Entrepreneurs Are Changing the World.” This recognition is a testament to the transformative work our organization is doing to create a brighter future for students across America.

The Power of Purpose

The article sheds light on how purpose-driven leaders like Cheryl are reshaping industries by prioritizing meaningful change over profit. At Cars for Kids, our mission revolves around helping at-risk youth achieve their dreams by supporting Texans Can Academies and other educational initiatives. Every vehicle donation makes a difference, and 100% of our net proceeds go directly toward funding education and mental health programs that uplift students and help them build a better future.

Driving Change Through Simple Acts of Kindness

One of the key takeaways from the article is the seamless process that allows donors to make a significant impact. By donating cars, trucks, motorcycles, RVs, or boats, individuals help us fund programs that provide critical support to students, including mental health resources, tutoring, and career readiness programs. As Cheryl shared in the feature, “A single donation can ripple outward, creating life-changing opportunities for countless students.”

Making Every Donation Count

We are incredibly proud to share that the funds raised from vehicle donations stay within the United States, helping Americans from all walks of life regardless of affiliation or background. This ensures that every dollar contributes to building stronger communities and brighter futures for those who need it most.

Join Us in Making a Difference

We are honored to have Cheryl Sutterfield-Jones and Cars for Kids recognized in Entrepreneur Magazine. As we continue to drive positive change, we invite you to join our mission by donating your vehicle or supporting our initiatives. Together, we can make a lasting difference.

To read the full article and learn more about the impact of purpose-driven leadership, click here.

Thank you for helping us drive brighter futures—one car at a time. 🚗✨

#PurposeDrivenLeadership #CarsForKids #Entrepreneurship #MakingADifference

Cars for Kids is thrilled to share some exciting news this holiday season! The world-renowned Trans-Siberian Orchestra (TSO) made an incredibly generous donation of $8,809 to Cars for Kids. This amazing gift is part of TSO’s ongoing commitment to giving back to local communities during their concert tours.

For every ticket sold during TSO’s performances in the Dallas-Fort Worth area, $1 was donated to a local charity, and we are honored to have been selected as the recipient this year. This incredible contribution will go directly to supporting the students at Texans Can Academies, a network of charter schools dedicated to helping at-risk youth earn their high school diplomas and build brighter futures.

At Cars for Kids, we understand the challenges many students face in traditional school settings, which is why every vehicle donation we receive helps fund the programs and resources Texans Can Academies provides. Thanks to TSO’s donation, more students will have access to the tools they need to succeed, such as counseling, tutoring, career readiness programs, and more.

We’d like to extend a heartfelt thank you to the Trans-Siberian Orchestra and iHeartMedia for their unwavering support. Your generosity will have a lasting impact on the lives of students who need it most. Together, we’re creating brighter futures and opportunities for success!

If you’re inspired to join this mission, consider donating your car to Cars for Kids. With free towing, a tax deduction, and the knowledge that you’re helping students thrive, your contribution can make a big difference.

Let’s keep the spirit of giving alive this holiday season! Thank you, TSO, for being a shining example of how music and generosity can truly change lives.

Are you ready for a once-in-a-lifetime opportunity to own a luxury vehicle while making a positive impact in your community? This Saturday, Cars for Kids is thrilled to feature a truly special car in our auction lineup: a 2008 Maserati GranTurismo with just 32,000 miles. This incredible luxury coupe, in clean and pristine condition, is a rare gem that you don’t want to miss.

The Maserati GranTurismo is synonymous with elegance, performance, and sophistication. With a powerful V8 engine, Italian craftsmanship, and sleek design, this vehicle offers an unmatched driving experience. Whether you’ve always dreamed of owning a Maserati or are looking for your next head-turner, this is your chance to bid on a high-end car at an amazing value. Opportunities like this don't come around often!

Our auctions aren't just about great deals—they’re about making a difference. When you bid on a car through Cars for Kids, you’re directly supporting students at Texans Can Academies. The funds raised help provide at-risk youth with resources like tutoring, counseling, and career training, giving them the tools they need to graduate high school and build a brighter future.

Auction Details:

• When: Saturday, December 21, 2024 starting at 9:00 AM CST
• Where: Cars for Kids Auction, 7100 Marvin D. Love Freeway, Dallas, TX 75237
• Online & In-Person: Place your bids either online or in-person at the event

This is your chance to drive away in luxury while contributing to a worthy cause. So, mark your calendars, check out the details on our website, and join us this Saturday.

Don’t let this Maserati slip through your fingers—it could be yours by the end of the weekend! Visit www.carsforkids.org/auction to learn more about this event and browse our auction inventory.

Write off the car, not the kid! Together, we can help local students achieve their dreams. Let’s drive change!

This holiday season, Cars for Kids had the incredible opportunity to partner with Project Love Love to bring joy and support to the children of young parents attending Texans Can Academies. On December 17th, 2024, we gathered at Texans Can Academies – Pleasant Grove and Oak Cliff for a special gift distribution event that truly captured the spirit of the season.

The event provided holiday gifts to students and their families, ensuring they felt the love and support of their community during this festive time of year. The smiles, laughter, and gratitude shared were reminders of the importance of giving and coming together as a community to create positive change.

About the Partnership

Project Love Love, a Fort Worth-based nonprofit, focuses on showing kindness and compassion to those in need across Dallas and Tarrant Counties. Their mission includes:

• Educating the community about homelessness and local needs.
• Inspiring action and fostering a sense of community.
• Creating change by encouraging others to use their talents to help.
• Supporting underserved communities through programs, donations, and volunteers.

“Love Love is about faith, hope, and sharing kindness with our communities,” said a spokesperson for the organization. “Partnering with Cars for Kids allows us to amplify our impact, especially during the holidays.”

Cars for Kids Making a Difference

At Cars for Kids, our mission has always been to turn vehicle donations into educational opportunities for at-risk youth through Texans Can Academies. By helping students earn their high school diplomas, we empower them to build brighter futures for themselves and their families.

“We are thrilled to partner with Project Love Love for this special holiday initiative,” said our CEO. “Seeing the joy and gratitude on the faces of these families makes everything we do worthwhile. Together, we’re spreading love, hope, and opportunity.”

Why It Matters

The holidays can be a challenging time for many families, especially young parents balancing school, work, and childcare. Events like this not only provide material support but also send a powerful message of encouragement: They are not alone.

At Cars for Kids, we believe that every act of kindness—whether through donating a vehicle, volunteering time, or supporting meaningful partnerships like this one—creates ripple effects that change lives.

A Big Thank You

We extend our deepest gratitude to Project Love Love for their dedication and partnership. Their work, alongside our mission, is making a real difference in the lives of Texans Can Academies students and their families.

Join Us in Driving Change

If you’d like to be part of the impact and help more students achieve their dreams, consider donating your car, truck, boat, or RV. Together, we can build brighter futures for kids in our community.

Learn more at carsforkids.org.

Thank you for supporting our mission and spreading love this holiday season.

Please take note of our Holiday Office Hours and Auction Updates:

Holiday Office Hours

• Closing Early: December 23rd at 3 PM
• Closed: December 24th - December 27th
• Closed: December 31st - January 1st
• No Auction: Saturday, January 4th

Payments for the 12/21 Auction

We will be accepting payments ONLY on:

• Saturday, December 21st from 10 AM - 3 PM
• Monday, December 23rd from 8 AM - 3 PM

Important: Any vehicles not paid for by 3 PM on Monday, December 23rd, will be considered a walk and deposited as forfeited.

Consignment Update

We will NOT be accepting new consignments during the weeks of Christmas and New Year's (12/23 - 01/03). Consignments will resume starting January 6th, 2024.

Thank you for your understanding and support. Happy Holidays!

— Cars for Kids Auction Team

In observance of the Thanksgiving holiday, our offices will be closed from Wednesday, November 27th at 12 PM through Sunday, December 1st.

We will resume regular office hours on Monday, December 2nd.

Please note: Vehicle donations will still be accepted during normal hours throughout the week, so don’t hesitate to give if you're ready to make an impact this holiday season!

Wishing you and your family a happy and safe Thanksgiving!

(Source) We are excited to announce that Cheryl Sutterfield-Jones has joined Cars for Kids as our new CEO! With decades of experience in nonprofit leadership, Cheryl’s passion for serving others and driving change makes her the perfect fit to lead our mission of helping children build better futures.

Cheryl has an impressive background, having served as President of the JPS Foundation, CEO of the North Texas American Red Cross, and President and CEO of the Dallas Children’s Advocacy Center, among other roles. She’s a recognized leader in nonprofit management and has been honored with numerous awards, including the Dr. Kenneth Cooper Lifetime Achievement Award and Agency Executive of the Year by the United Way of Metropolitan Dallas.

In her own words, Cheryl shared, “I am honored to join Cars for Kids as its new CEO. Through its charity car donation programs, this organization has helped thousands of children to build better futures.”

With Cheryl at the helm, we are excited to continue turning vehicle donations into life-changing opportunities for at-risk youth. At Cars for Kids, 100% of net proceeds from every car donation go directly to the kids, ensuring maximum impact on their education and success.

In observance of the Indigenous Peoples' Day holiday, Cars for Kids offices will be closed on Monday, October 14th. Our team will resume normal business hours on Tuesday, October 15th.

We encourage anyone looking to donate a vehicle or inquire about our services to visit our website at www.carsforkids.org or call us at 866-835-5437 for any questions.

Learn more about Indigenous People's Day here.