- toledoblade.com -New tax rules take bite out of vehicle donations

- toledoblade.com -: "OLEDO-AREA CHARITIES
New tax rules take bite out of vehicle donations
Value and quality of automobiles also declining
Photo
Dave Pifer auctions vehicles while Lester and Mary Calendar browse the Volunteers of America lot. A decline in automobile donations has especially hurt the Volunteers of America because its other funding sources have remained flat for years.
( THE BLADE/JEREMY WADSWORTH )
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By TAD VEZNER
BLADE STAFF WRITER

Almost a year after the federal government put the brakes on excessive tax deduction benefits for donating vehicles to charity, some area agencies that got a lot of mileage out of such gifts are seeing a significant slowdown in donations.



Until the end of 2004, donors were able deduct the Kelley Blue Book value of vehicles they donated to charity on their tax returns. But a change in federal law this year - part of the American Jobs Creation Act of 2004 - now allows donors to claim only the actual price charities receive when they sell most donated vehicles."