By SANDRA BLOCK, USA Today
Posted Sunday, December 31, 2006
For years, giving a car to charity offered multiple benefits. You could get rid of your beater, help a worthy cause and pocket a sizable tax deduction.
There are still many charities that will happily haul away your 1987 Chrysler LeBaron, but a law that took effect last year has deflated the tax deduction. Now, most donors can deduct only the amount the charity receives when it sells the vehicle -- which is usually much less than the amount claimed under the old rules."