Charitable Tax Deductions Tracked with ItsDeductible
You don’t want to forget any tax deductions. A big one that everyone remembers is charitable donations.
But how do you easily track all of those donations? You might have donated cash, stock, household items, or even driven your car to volunteer. All of these are prime tax deductions. And you don’t want to forget them.
That’s where ItsDeuctible can help.
Track tax deductions online
This is a FREE online service by TurboTax. It allows you to input all of your charitable donations throughout the year. And then it seamlessly imports into TurboTax at tax time. It easily tracks all different types of donations:
Cash – You can setup charities, and then input whenever you donate to them. Tell ItsDeductible how you made the payment, and it will keep track of the info for you. You can also setup recurring donations!
Stock – I don’t own any stock, so I haven’t tinkered with this feature yet. But I’m sure it works quite well, and it probably saves stock donation headaches.
Household items – This is an area where ItsDeductible really shines. When you donate used items to a charity, input them online. The program then tells you how much they’re worth! This ensures that you get the biggest tax deduction possible. Your used clothing is worth more than you think!
Mileage – Did you know that you can deduct miles driven to volunteer for a charity? ItsDeductible will keep track of these for you, and it automatically calculates the total amount you can deduct.
Input tax deductions all year
The key to really maximizing ItsDeductible is to input charitable donations as you make them. Don’t wait until April to try to remember every donation you made last year.
Since ItsDeductible is free and online, you have no excuse not to use it throughout the year. It will maximize your tax deductions and help save money at tax time. Isn’t that the name of the game?
Photo of hurricane Katrina donations by Schnittke
Get more legal tips
|
See also... |
Comments
8 Responses to “Charitable Tax Deductions Tracked with ItsDeductible”
-
Legal tips by email
Sign-up below to get email tips and exclusive discounts on videos, webinars, and future items.
All fields are required.
-
Receive updates
By email
By rss (full feed)
-
About Andrew Flusche
Lawyer, bicyclist, husband.
More about me...
Tumble Log
-
Popular Posts
March 23rd, 2008
Very fine. I should blog on this and link here as the source. Thank you.
I too follow. Feel free.
God bless.
REAL LIBERAL CHRISTIAN CHURCH
Tom Usher
March 23rd, 2008
I’m also impressed with your plugin that allows one to edit comments without any timeout. Would you care to share the plugin name?
March 24th, 2008
Tom,
Thanks for the kind words, and I appreciate your great blog post!
The comment edit plugin is AJAX Edit Comments.
March 30th, 2008
Hello Andrew,
You’re welcome, and thank you for sharing the name of the plugin. I’m headed there now to take a look.
God bless.
Tom Usher
August 16th, 2008
Great info thanks, been googling for hours. Will bookmark this blog.
October 7th, 2008
FYI – CharityDeductions.com provides the same service as Itsdeductible but is a better choice for people who use a CPA or tax professional to process their taxes rather than the TurboTax software.
October 7th, 2008
@D. Sawyer – Thanks for the tip. Very cool site!
July 15th, 2009
Site for computer file recovery…
I have a new computer but I need to recover data from a crashed computer. How do I accomplish that???…