How Much is Your Car Worth?

The end of the year signals a hurried rush to either buy a car, trade in your old one or settle with what you have. How do you know what your car is worth without making a trip to the appraiser?

Go to the Kelly Blue Book Web site for a full range of listings for new car pricing, used car rates and a variety of other tools to help in deciding where and when to buy a new vehicle.

The site includes quite a bit of research information, including new car reviews and even a Title History Search, ideal to figure out whether a used car has ever been in an accident.

This site is also useful when attempting to determine the value of automobiles donated to charity. Keep in mind, however, when contemplating how much you can deduct on your tax return for donating a car to charity, the Blue Book value is merely a starting point. The IRS expects you to reduce the donated value of the vehicle to the amount you would be able to sell it for in an arms-length transaction.

Meanwhile, if you're thinking of purchasing a new car, stop by the AccountingWEB calculators to calculate how much car you can afford to buy.

You may like these other stories...

Event Date: August 28, 2014, 2 pm ET Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to...
When you’re running an accounting office, it's easy to become inundated with paper, forms, and email attachments, especially when tax season rolls around. To prevent your office from becoming completely overwhelmed...
It's not a reality—yet—but accounting software is poised to eliminate accountants. We are at a tipping point for many similar professions: online education replacing professors, legal software replacing...

Upcoming CPE Webinars

Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
Aug 20
In this session we'll review best practices for how to generate interest in your firm’s services.
Aug 21
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.