Car Donation

Your old clunker has just about had it and you have just leased a brand spanking new car for your family. What to do with the "has been"? At your mother's birthday party, Uncle Jack takes you aside and says the two magic words - donate it! Before you jump at the chance to get a huge charitable donation on the little lemon, take a deep breath and do your homework.

The IRS, tired of inflated car values and not-so-charitable charitable organizations, has tightened its rules on car donation. As of January 2005, there are a number of parameters you will need to meet or exceed before the donation counts.