Its Deductible : Turning Donations into Dollars: Tax Year 2004 Workbook

by Intuit; Schnepper, Jeff A.

• ISBN13: 9780970323095
• ISBN10: 0970323093
• Edition: 15th
• Format: Paperback
• Copyright: 2004-06-01
• Publisher: Pub Group West

Summary

Anyone who gives clothing or household objects to charities and itemizes their tax return can benefit from ItsDeductible™ - the only book available that determines the fair-market value of commonly donated items. It is updated annually, with 75 percent of the valuations changed for this year's edition. Although millions of people deduct such donations on their returns, most underestimate the value of their items. With categories for clothing, jewelry, baby supplies, toys, small appliances, tools, sporting goods, and more, this "comprehensive and detailed" workbook (The Wall Street Journal) will increase the user's tax savings by an average of $500. In addition to assessing noncash donations, readers can also easily track monetary and property donations, out-of-pocket expenses, and mileage expenses incurred while driving on behalf of a charity.

Table of Contents

Foreword
Section 1 Turning Your Donations Into Dollars
How ItsDeductible Works	6	(1)
Getting Maximum Benefit from ItsDeductible	7	(1)
Getting Started on Your Tax Savings	8	(2)
Section 2 Choosing A Qualified Organization
Who Qualifies as a "Charitable Organization"?	10	(1)
Qualified Organizations	10	(2)
Section 3 Valuing Donated Items
Value Categories	12	(1)
Other Factors that Affect Item Values	13	(1)
Designer Brands	13	(1)
Section 4 Other Charitable Donations
Out-of-Pocket Expenses	14	(1)
Fund-Raising Events	14	(1)
Monetary Donations	15	(1)
Property Donations	15	(1)
Mileage Expenses	16	(1)
Automobile Donations	17	(1)
Non-Deductible Donations	17	(1)
Section 5 Managing Your Donations
A Quick Review - Four Simple Steps	18	(1)
Some Rules to Know About	19	(1)
Federal Income Tax Brackets for 2004	20	(1)
IRS Tax Form 8283	21	(2)
DatAssure™ Guarantee	23	(1)
Registration Card	23	(1)
Section 6 Certified Market Valuations
Baby Supplies	24	(2)
Bedding and Linens	26	(3)
Clothing, Boy's	29	(4)
Clothing, Girl's	33	(4)
Clothing, Infant's	37	(2)
Clothing, Men's	39	(5)
Clothing, Toddler's	44	(3)
Clothing, Women's	47	(6)
Designer Clothing, Men's	53	(3)
Designer Clothing, Women's	56	(4)
Entertainment	60	(2)
Furniture	62	(2)
Household Miscellaneous	64	(2)
Kitchen	66	(4)
Lawn and Garden	70	(1)
Pet Supplies	71	(3)
Sports and Recreation	74	(8)
Tools	82	(2)
Toys	84	(4)
Section 7 Valuation Worksheets
Custom Item Donations	88	(5)
Property Donations	93	(2)
Mileage Expense Tracking	95	(2)
Monetary Donation Tracking	97	(4)
Out-of-Pocket Expense Tracking	101	(4)
Charity Information	105	(4)
Tax Preparation Worksheet	109	(1)
Notes	110