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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.

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Want proof? Take a moment to see how much you can save on your taxes by using our software when you itemize.

Tax RateDonation
Net cost of donationTax savings
$ $ $
2019 Federal Income Tax Brackets
 Taxable Income
Marginal Tax RateSingleMarried Filing Jointly or Qualified Widow(er)Married Filing SeparatelyHead of Household
10% $0 - $9,700$0 - $19,400$0 - $9,700$0 - $13,850
12% $9,701 - $39,475$19,401 - $78,950$9,701 - $39,475
$13,851 - $52,850
22% $39,476 - $84,200$78,951 - $168,400$39,476 - $84,200$52,851 - $84,200
24% $84,201 - $160,725$168,401 - $321,450$84,201 - $160,725$84,201 - $160,725
32% $160,726 - $204,100$321,451 - $408,200$160,726 - $204,100$160,726 - $204,100
35% $204,101- $510,300$408,201 - $612,350$204,101- $306,175$204,101- $510,300
37% $510,301 or more$612,351 or more$306,176 or more$510,301 or more