Donating Old Fleet Vehicles To Charity: 3 Benefits For Your Business
Posted on: 23 June 2016
If your employees rely on a fleet of vehicles to help them complete their job duties on a regular basis, you know how important it is to maintain a fleet of reliable vehicles. Once a fleet vehicle can no longer be counted on to perform properly, getting rid of it can pose a challenge. If your company has never considered the donation of old fleet vehicles to charity, you might want to present it as an option.
Here are three business benefits your company can enjoy when you make the choice to give your old fleet cars to charity.
1. Tax Deduction
Donating business assets to a charity organization can be a simple way to generate more tax deductions the next time your business files with the IRS. You will need to determine the fair market value of your old fleet vehicles by consulting buyer's guides and current market prices. You can deduct this amount on your tax forms by making the choice to partner with a 501(c)(3) charity recognized by the IRS.
Just remember that if the market value of your donated vehicle is more than $500, you will need to prepare form 8283 to send along with your taxes when you file to qualify for your charitable deduction.
2. Favorable Consumer Opinion
Positioning yourself in a competitive market can be challenging, but finding ways to increase your charitable donations can be a simple way to cultivate favorable consumer opinion regarding your company.
According to a study conducted in 2010, 90% of consumers indicated that they want companies to let them know about charitable activities. The same survey showed that 85% of consumers view a company more favorably if that company makes charitable donations. Giving your old fleet vehicles to charity can be an effective way to draw in new customers by cultivating a favorable consumer opinion for your company within the marketplace.
3. PR Opportunity
When your company makes a large donation (like giving a fleet vehicle to charity) it creates the perfect opportunity to generate some press. Consumers are inundated with advertisements and marketing messages, so your attempts to reach new clients through these avenues could be challenging.
When you work with local media outlets to notify consumers of your donation, you generate positive press that captures their attention. Using the PR generated from your fleet vehicle donation, you can attract new customers and increase sales.
If you are looking for a creative way to improve your company's tax situation, consumer opinion, and visibility in the marketplace, donating your old fleet vehicles could be the solution.
To donate a car to charity, click this link http://actiondonation.org or do an online search.
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