Making charitable donations makes a difference to those in need and can save you money at tax time.
Donation Assistant by TaxAct is a free mobile app that helps track goods and money you donated to charitable organizations. Your donations can then be easily imported into TaxAct next tax season to maximize your refund.
1. After opening the app, tap "Add Donation."
2. Choose the type of donation:
Learn more about each category below.
3. Create a charity. Enter an organization name and street address. If you'd like, you can and choose an icon and color for each charity. The app saves your charities so you don't have to enter it if you donate to them again.
4. Optional: Create a digital record of your donation by taking a photo of the item or a receipt with the app's built-in camera. Then save it with your donation entry.
Donation Assistant has audit-backed, fair market amounts for more than 1,300 items to make it easy to value the item you are donating.
Simply choose the category that best fits your item and the app will guide you.
The app provides two distinct values for each item. IRS guidelines state your donated item must be in "good" or "better" condition. Choose the condition of your item for donation and the app will assign the associated value.
You also have the option of entering your own fair market value for each item.
If you do, keep in mind the IRS defines fair market value as "the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts."
After you have assigned a value, you can create a digital record of your donation by taking a photo of the item or a receipt with the app's built-in camera.
If you don't have time to itemize your donations, use the Miscellaneous Bag category.
Miscellaneous Bag allows you to give your own value to the items donated. When using this category, it's a good idea to take a photo of the donations and receipts.
Maybe you donate money to a local youth program or a national charity once or twice per year. Use the One-Time Cash Donation category for this type of donation.
Enter the amount and a description of the donation, and a photo of the receipt.
If you make regularly scheduled monetary donations, the app will help set up a recurring schedule for you. Simply designate the amount made each time and how often a donation is made.
As the donation dates occur, the app will ask you to verify the donations were made.
If you need to change the amount donated or miss a scheduled donation, simply access the charity and donation from the Donation Assistant Dashboard and make the appropriate edits.
You can edit one or more entries from your recurrence schedule.
The Donation Assistant Dashboard is the initial screen you see any time you open the app.
You may also access it by tapping on the home button from the slide in menu at the upper right of the screen or by tapping the home icon in the lower right of the screen.
As you enter donations, they are added on the Donation Assistant Dashboard on the front of the app. The dashboard shows each charity and the total donated to each one for the year.
Tap on a charity to view individual donation events. From here, you can also view each donation and photos, and edit or delete the donation.
From the slide in menu in the upper right, you may access the Donation Report. It shows all items and monetary donations for the year.
In addition to reviewing the information on your phone, you can also have the report emailed to you if your device has an email account already set up.
The emailed version of the report is viewable via your web browser on your tablet, laptop or desktop.
Import Donation Assistant information Into TaxAct
At tax time, you'll be able to import your Donation Assistant data into TaxAct. All the donation information you've collected will help save you valuable time and money on your taxes.
Clean out your closet and help those in need.
August 1 — Certain small employers
Deposit any undeposited tax if your tax liability is $2,500 or more for 2018 but less than $2,500 for the second quarter.
August 1 — Federal unemployment tax
Deposit the tax owed through June if more than $500.
August 1 — All employers
If you maintain an employee benefit plan, such as a pension, profitsharing, or stock bonus plan, file Form 5500 or 5500EZ for calendar year 2017. If you use a fiscal year as your plan year, file the form by the last day of the seventh month after the plan year ends.
August 10 — Employees who work for tips
If you received $20 or more in tips during July, report them to your employer Details
August 10 — Social security, Medicare, and withheld income tax
File Form 941 for the second quarter of 2019. This due date applies only if you deposited the tax for the quarter timely, properly, and in full.
August 15 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in July.