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
$ $ $
     
2015 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 - $9,225 $0 - $18,450 $0 - $9,225 $0 - $13,150
15% $9,226 - $37,450 $18,451 - $74,900 $9,226 - $37,450 $13,151 - $50,200
25% $37,451 - $90,750 $74,901 - $151,200 $37,451 - $75,600 $50,201 - $129,600
28% $90,751 - $189,300 $151,201 - $230,450 $75,601 - $115,225 $129,601 - $209,850
33% $189,301 - $411,500 $230,451 - $411,500 $115,226 - $205,750 $209,851 - $411,500
35% $411,501- $413,200 $411,501 - $464,850 $205,751 - $232,425 $411,501 - $439,000
39.6% $413,201 or more $464,851 or more $232,426 or more $439,001 or more