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.
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April 10 — Employees who work for tips
If you received $20 or more in tips during March, report them to your employer. You can use Form 4070.
April 15 — Individuals
File a 2018 income tax return (Form 1040) and pay any tax due. If you want an automatic 6 month extension of time to file the return, file Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. For more information, see Form 4868. Then, file Form 1040 by October 15.
April 15 — Corporations
File a 2018 calendar year income tax return (Form 1120) and pay any tax due. Details
April 15 — Individuals
If you are not paying your 2019 income tax through withholding (or will not pay in enough tax during the year that way), pay the first installment of your 2019 estimated tax. Use Form 1040ES.
April 15 — Household Employers
If you paid cash wages of $2,000 or more in 2018 to a household employee, you must file Schedule H Details
April 15 — Corporations
Deposit the first installment of estimated income tax for 2018 Details
April 15 — Social security, Medicare, and withheld income tax
If the monthly deposit rule applies, deposit the tax for payments in March.
April 15 — Household employers
If you paid cash wages of $2,000 or more in 2018 to a household employee, you must file Schedule H (Form 1040). If you are required to file a federal income tax return (Form 1040), file Schedule H (Form 1040) with the return and report any household employment taxes. Report any federal unemployment (FUTA) tax on Schedule H (Form 1040) if you paid total cash wages of $1,000 or more in any calendar quarter of 2017 or 2018 to household employees. Also, report any income tax you withheld for your household employees.
April 30 — Social security, Medicare, and withheld income tax
File Form 941 for the first quarter of 2018. Deposit or pay any undeposited tax under the accuracy of deposit rules. If your tax liability is less than $2,500, you can pay it in full with a timely filed return. If you deposited the tax for the quarter timely, properly, and in full, you have until May 10 to file the return.
April 30 — Federal unemployment tax.
Deposit the tax owed through March if more than $500.