Donation Value Calculator

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.

Tax Rate Donation
Net cost of donation Tax savings
$ $ $
     
2014 Federal Income Tax Brackets
  Taxable Income
Marginal Tax Rate Single Married Filing Jointly or Qualified Widow(er) Married Filing Separately Head of Household
10% $0 - $9,075 $0 - $18,150 $0 - $9,075 $0 - $12,950
15% $9,076 - $36,900 $18,151 - $73,800 $9,076 - $36,900 $12,951 - $49,400
25% $36,901 - $89,350 $73,801 - $148,850 $36,901 - $74,425 $49,401 - $127,550
28% $89,351 - $186,350 $148,851 - $226,850 $74,426 - $113,425 $127,551 - $206,600
33% $186,351 - $405,100 $226,851 - $405,100 $113,426 - $202,550 $206,601 - $405,100
35% $405,101- $406,750 $405,101 - $457,600 $202,551 - $228,800 $504,101 - $432,200
39.6% Over $406,750 Over $457,600 Over $228,800 Over $432,200