Car Donation To Charity Rules Have Changed

A change in the last years made car donation charity less attractive for taxpayers, and delivered mixed results for charities that take cars. Some are reporting little or no change in the number or value of charitable auto donations for a tax deduction. Others say the changes have hurt their fundraising efforts. In one case the car donation charity that usually gets more than $12 million per year from the sales, saw the figure dropped to less than $7 million. As it stands now, the deduction a taxpayer can claim for car donation charity is limited to the amount for which the car sells at auction.

When donating to charity, taxpayers can deduct what they are able to document as the cars fair market value. Because cars often sell for much less at auction than owners think they're worth, deductions will be much less and the charity must notify the taxpayer of the amount the car sold for before a deduction can be realized, unless the car is worth less than $500. An exception is if your giving is to a car donation charity that is going to use the car and not sell it. Then you can deduct the fair market value for the charitable auto donations. Car donation charity feared lower deductions would scare people away. Some charities and firms that auction cars for charity think that the lower tax deduction won't hurt donations and charity fundraising. That's because most of the people who donate to charity don't itemize, so they can't take a deduction anyway.

Most people are participating in car donations to charity because of convenience. They don't want to have to spend money to get the car in shape, to sell it. It is simple to participate at charitable auto donations! People like you and I, donate their cars to charity, and increase its funds, thus making a profound change in the overall standard of living of the neighborhood, and the nation. Your vehicle donation helps support a charity of your choice in their vital work. Theoretically, every charity may choose from a number of fundraising activities, including car donations, for financial support. Because of the substantial unit values, receiving car donations, and selling them for profit, is one of the favorite funds gathering models. How a charity operates a car donation program may have tax consequences. The program can affect the charitys exempt status; and impact the tax-deductibility of the donors contribution. If any charity operates a car donation program in a manner that confers improper benefits on private parties, the charitys exemption may be adversely affected. If the charity loses its exemption, its income is subject to tax, and it must file the appropriate federal income tax return. However, if the tax laws are adhered to, the program should not negatively impact on the charitys tax-exempt status. Donors may deduct their contributions (if all legal requirements are met).

The car donation charity may hire a private, for-profit entity as an agent to operate its car donation program. Both of them must establish an agency relationship that is valid under the applicable state law. Generally, an agency relationship will be established where the parties agree that the for-profit entity will act on the charitys behalf and that the for-profit entitys activities covered by the agreement are subject to the charitys audit. Accordingly, the charity should actively monitor program operations and have the right to review all contracts, establish rules of conduct, choose program operators, pre-approve all advertising materials, and examine the programs financial records. Although it seems quite strict, the idea is to prevent any wasteful actions on part of the operator, that have the potential to reduce the net profits available for the charitable causes, and thus limit your impact, as a donor, on the beneficial work of your chosen nonprofit organization.

Sam Ness writes about charity-related issues affecting lives of ordinary Americans, wanting to help those less fortunate. Charity Donations

Alternative Fuel Kits - Learn How to Get 40% More MPG

Gas prices are at record highs and they are still going up! I to was having issues paying for gas, until I found out there are alternative fuel kits.

Alternative Fuel Kits? what are those?
An alternative fuel kit, more commonly known as Hydrogen fuel kit or HHO fuel kit, is a device that creates a gas called HHO. HHO is created when a current runs through water and can fuel your engine along with gasoline increasing your miles per gallon by up to 40%!

Is HHO bad for my car?
HHO burns much better and cleaner then gasoline so you can expect a longer engine life. It will also lower emissions which is good for the environment and your health.

How does it work?
Basically, you take a container and fill it with water, then you run a wire through it connecting to your battery. When the car turns on the wire starts running a current. The current runs through the water separating the hydrogen and oxygen, causing the HHO to rise to the top of the container. You'll connect a tube to the top for the HHO to flow through into the engine. Once in the engine the HHO will replace some of the burning gasoline so your car runs just as good with less gasoline, improving your overall fuel mileage, which is why it is possible to get a 40% mpg increase.

How can I get one of these kits?
You can easily make one in only a couple of hours with little to no automotive knowledge using items you can probably find around the house. It's fast and very simple, you can install it or remove it from your car in minutes without voiding your warranty.

If you're interested in making your own kit and start saving money today, I've reviewed the top three guides listing what I like about each one and giving it a personal rating so you can get the most out of your hydrogen conversion kit

Annuities - Rising Interest Rates - Another Reason To Avoid Equity-Indexed Annuities

Rising interest rates are another reason to avoid Equity-Indexed Annuities. If you are retired or near retirement, dont let yourself be talked into purchasing an Equity-Indexed Annuity. If you do, it could easily be a decision you regret for many years to come.

Ive been called a lone voice in the wilderness speaking out about the dangers of equity-indexed annuities. It seems that everywhere you turn there is an advisor or insurance agent telling you an equity-indexed annuity is the greatest thing since sliced bread. Dont believe them.

Ive talked at length in other articles about the hidden dangers in Equity-Indexed Annuities. You can find those articles at www.guardingyourwealth.com, but the 3 main reasons are (1) they needlessly require you to lock up your money for a very long time, (2) the majority of your returns are still based on the stock market and (3) the commissions for selling an Equity-Indexed Annuity are so high it creates a tremendous conflict of interest for those recommending them. Rising interest rates are just one more reason. Let me explain.

Equity-Indexed Annuities eliminate your flexibility and control over YOUR money. In todays post-9/11 world where terrorism is a very real threat, its important that you have the ability to make changes to and access all of your money when you need towithout incurring surrender penalties that can be as high as 20%! Locking your money into an Equity-Indexed Annuity for 10-15 years causes you to lose control of all but a small portion of it. Equity-Indexed Annuities dont offer enough reward in exchange for such a long-term commitment.

The main selling point of an Equity-Indexed Annuity is the ability to participate in the return of the stock market but have a guarantee that your money will earn at least 3%. The performance of these investments is designed to come from the stock market, not the guarantee. If you are willing to invest in the stock market, I feel there are better ways to do so which provide downside protection while allowing you to retain complete control and flexibility. (Contact me for more information.)

Rising interest rates is another reason you shouldnt invest in an Equity-Indexed Annuity. Over the past 3 years, the thought of earning a 3% fixed return on your money didnt sound too bad. Certificates of Deposit at the local bank have only been paying 1% or 2%. Thats made it difficult for those relying on that income to meet their monthly needs. Equity-Indexed Annuity salespeople have used this as a main selling point.

But things have changed. The Federal Reserve recently increased the Federal Funds interest rate by one quarter of one percent. That may not sound like much, but its the first time theyve raised rates in four years. They also signaled that the economy is heading in the right direction and that theyll continue to raise interest rates over the next few years as necessary to keep inflation in check.

The interest rates available on Federally Insured Certificates of Deposit (CDs) have already risen significantly. You can earn almost 2.5% on a 1-year CD and over 3% on a 2-year CD. The futures markets project that Federal Funds interest rates could be as high as 3% by the end of 2005. Thats means it is likely that youll be able to get a 1-year CD for over 4% and a 2 or 3-year CD for 5%.

Think about itif you can earn 5% on a short-term, Federally-insured Certificate of Deposit, why would you want to lock your money up for 10 to 15 years with a guarantee of only earning 3%? Especially if youd have to pay a penalty that could be as high as 20% to get at more than just a small portion of it! It just doesnt make sense.

For those needing income, now is the time to be patient. Use short-term investments like Certificates of Deposit that mature in 1-year or less. When they come due, chances are rates will be significantly higher and your patience will be rewarded.

If youd like me to answer specific questions about your financial situation, feel free to email me at jeff@guardingyourwealth.com or call 1-877-827-1463. I regularly respond to readers questions and would be happy to answer yours.

Mr. Voudrie is a Certified Financial Planner, nationally syndicated newspaper columnist and President of Legacy Planning Group, Inc., a Private Wealth Management Firm in Johnson City, TN.

Nationally-syndicated financial columnist and Certified Financial Planner Jeffrey Voudrie provides personal, in-depth money management services and advice to select private clients throughout the USA. Hell answer your financial question FREE at http://www.guardingyourwealth.com

HHO Plans For Cars - Double Gas Mileage by Using Water As Fuel Source

HHO plans for cars are taking the alternative fuel industry by storm. These are DIY blueprints which enable car drivers to build their own water-to-fuel conversion kit and save on gas. But many people are still unsure what HHO plans can do, and how they can benefit from this.

Quite simply, HHO plans provide a set of design which allows you to use water as a fuel source. Water is not directly used as fuel. Instead, a simple conversion kit converts water into a gas known as HHO, or Hydrogen Hybrid Oxygen. HHO gas is then channeled through the engine air intake to mix with regular gasoline to boost fuel efficiency. You typically get a 50% increase in gas mileage, depending on your vehicle make and road conditions.

The world's gas consumption is increasing. With limited gas supply, the only way is up, where pump prices are concerned. Using water as a fuel source makes good economic sense. After all, water is an abundant resource and available cheaply.

HHO plans for cars provide you with all the instructions and illustrations needed to build a water-to-fuel conversion kit on your own. Many excellent blueprints designed for the novice car driver can be downloaded online at a low cost. You can set up a kit in a few hours using parts commonly found around your home or your local hardware store. No modification to the car engine is required.

All in all, the blueprints and materials needed should not cost you more than $150. Is this a wise investment of your money and time? You bet! Many drivers who have built their own conversion kits have reported huge savings on gas costs. Do you also know that by using this "green technology", you can also claim IRS tax credits? This means more money in your pocket!

Forget about alternative fuels such as Compressed Natural Gas (CNG) or hybrid vehicles using hydrogen gas as fuel. These are costly to begin with, and CNG and hydrogen gas refill stations are not something you can find within easy reach. HHO plans for cars are getting very popular for a reason. They are the solution to many car owner's gas woes.

Want to build a conversion kit yourself but do not know where to start?

Fret not! Many people in your shoes have successfully built one and are already saving shaving $1000s off their gas bills. If you need step-by-step guidance in installing a conversion kit, I have reviewed the Best HHO Plans for your convenience. These highly recommended guides provide easy-to-follow instructions that will help you save money in no time.

Isache Chew is an Alternative Fuel Specialist who takes pride in helping the average consumer save money on gas and give oil companies a run for their money! For an expert review of the top HHO Plans, zoom into his website at http://www.isache-biz.com/runcaronwater

Bad Credit 2nd Mortgage

Taking out a home equity loan is one of the time-tested ways to get out of debt. There are two general kinds of home equity loan available to borrowers with bad credit history depending on your specific financial situation; you can either take a 2nd mortgage, or a home equity line of credit (HELOC). You need to know how each works in order to decide which one to apply for. Each has its uniquely different details and methods of dispensing payments to you, and of you paying them back.

If you need immediate relief from an overwhelming number of creditors demanding instant payment, you will benefit from a 2nd mortgage. This type of home equity loan allows you to borrow a fixed amount with a fixed interest rate, and is best for consolidating loans. Note, however, that interest rates for bad credit applicants are generally higher by a few percentage points. If your credit is bad but you still need money, you will unfortunately have to bite the bullet and take out a higher-interest loan.

If you need a steadier cash flow, consider a HELOC. It will allow you access to a decent credit limit at interest rates lower than traditional lines of credit. Be sure you control your spending, because unwise use of HELOC can get you into even more debt (and cause you to lose your home). Always consult and talk at length with a mortgage representative over many days before closing on a deal. Just remember that their job is to sell you a loan. Beware predatory lenders.

2nd Mortgage provides detailed information on 2nd Mortgage, Refinance 2nd Mortgage, Bad Credit 2nd Mortgage, 2nd Mortgage Loans and more. 2nd Mortgage is affiliated with 1st Mortgage Rate.

What Are Home Equity Loans?

If you need a big amount and you don't have it at the moment, some people may suggest that you get home equity loans. This can be a good solution for your needs but this will only be the right option if you are able to understand what home equity loans are.

When a homeowner borrows money at a lending institution while making his house as the collateral, it is called a home equity loan. With this setup, it is amiable for the borrower since he can have a large amount in time as he needs money. Also, your home is at stake so the individual would have to make sure that the payment of the loan and them interest is done regularly or else your house may be put at stake. The home equity loans are also desired by many lending companies since the homes are the collateral. Thus, they will not have a hard time collecting it in case that the borrower is not able to pay for it. Thus, the demand for this type of loan is high as it is profitable for the lenders and useful for the borrowers.

There are many benefits that can be experienced with home equity loans. One would be a relatively lower interest rate compared to the use of credit cards. Also, applying for this kind of loan is not difficult because you will not have to have a good credit history. The lending companies would not need to consider your credit history since they already have your house as collateral. You will be forced to give them the house in times that you are not able to pay. Added to this, the loan that you can have can be large depending on the house that you have. Thus, you can demand for a bigger loan amount if you really need the money. However, you should make sure that you have the paying capabilities for the loan and for the interest.

There are many applications of the money availed through home equity loans. You will see that most of the borrowers use the money to renovate their homes, for college tuition, medical expenses, payment of other debts, and other types of bulk expenses. The value of your home is large as it is the collateral for home equity loans. You should carefully select on which activities you will spend the money that you borrowed. Make sure that they are wisely spent since you will have to pay for it in the long run.

As mentioned, there can be many applications of home equity loans and there can be more benefits. However, you should also make sure that you are aware of the risks that goes along with the loan before you agree in the deal. This will be useful to ensure that you are able to make use of the benefits that it offers without paying too high interest and without putting your house in danger if you are not able to pay for the loan.

Who else wants to know about how to get a Home Equity Loans Rates? This website revel the new secret that only a few knows. In just a click you'll find out what so little people know about Home Equity Loans Rates.