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.

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Upcoming CPE Webinars

Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.
May 1
This material focuses on the principles of accounting for non-profit organizations’ expenses. It will include discussions of functional expense categories, accounting for functional expenses and allocations of joint costs.