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Charitable Deduction Calculator |  |
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Americans Overpay Taxes Due to "Garage Sale" Donation Values
San Luis Obispo, CA (PRWEB) - Millions of American taxpayers may end up paying the government more taxes than necessary by undervaluing donations. The IRS allows the taxpayer to value donations and report the fair market value for the items but without sufficient time or resources, taxpayers end up reporting conservative "garage sale values" if they report them at all. CharityDeductions.com helps taxpayers quickly and accurately determine the "fair market value" for 100,000+ items for an increased deduction and a lower tax bill.
| Charitable Giving Calculator - See how much you can save on your taxes!
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| 2008 Federal Income Tax Brackets |
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Taxable Income |
| Marginal Tax Rate |
Single |
Married Filing Jointly or Qualified Widow(er) |
Married Filing Separately |
Head of Household | | 10% | Not over $8,025 | Not over $16,050 | Not over $8,025 | Not over $11,450 | | 15% | $8,025 - $32,550 | $16,050 - $65,100 | $8,025 - $32,550 | $11,451 - $43,650 | | 25% | $32,550 - $78,850 | $65,100 - $131,450 | $32,550 - $65,725 | $43,651 - $112,650 | | 28% | $78,850 - $164,550 | $131,450 - $200,300 | $65,725 - $100,150 | $112,651 - $182,400 | | 33% | $164,550 - $357,700 | $200,300 - $357,700 | $100,150 - $178,850 | $182,400 - $357,700 | | 35% | Over $357,700 | Over $357,700 | Over $178,850 | Over $357,700 |
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