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Year-Round Giving: How to Get the Most out of Your Charitable Deductions.

February 13, 2014

How to Get the Most out of Your Charitable Deductions.

Taxes: How to get the most out of your charitable donations

This past year I decided to be more organized when it came to recording, tracking, and filing my charitable contributions. This year I used ItsDeductible and it helped me get the biggest deduction on my charitable donations.

Here are 7 reasons why you should be using ItsDeductible.
1. ItsDeductible is a free online program by Turbo Tax that you use to record your charitable donations.
2. It is also available as a mobile app.  
3. It interfaces with  Turbo Tax and imports all the charitable contributions you have recorded.
4. If you don't use Turbo Tax  to file you can still use this program. The program generates reports that you can print.
5. It is set up in categories so all you have to do is enter your data.
6. It estimates your savings.
Sample from ItsDeductible

7. It takes the guess work out of determining the value of your goods that you donate. It has predetermined values for the condition of your items. By using this resource, I discovered that I had been undervaluing my Goodwill donations in the past.

Sample from ItsDeductible

Did you know that you can claim your mileage to and from a donation site? (All those Goodwill trips)

It does not have an option to scan your receipts so you are going to have to hold on to those.

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