The Best Way to Track Charitable Donations
With school season in full swing and many of my clients sending off kids to college this year, I’ve had an abundant amount of "stuff" that needs moving out (…along with the kid, too).
My minivan has been getting a workout running from client home to donation station of choice, and a tool for tracking charitable contributions has helped some of my clients in a big way. No, it’s not tax season, but…this is the time of year to keep organized so that April (or October, whenever you file) is not a bear.
If you are one who wants to itemize and track the value of your donations, check out ItsDeductible. You can track your donations year round, adding any specific donations, mileage, cash, bonds and even mutual funds. The app offers decently accurate value suggestions for your donations, based on the style and condition of your items. And you can rest easy not having to worry about the common concern of an IRS audit. The app also tells you what the IRS allows as a deduction.
This app is made by Intuit, the makers of TurboTax, and I tend to trust these companies as a general rule. But if you want to read about their privacy policies, you can certainly do so here.