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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.
Donation Value Calculator Want proof? Take a moment to see how much you can save on your taxes by using our software when you itemize. | 2019 Federal Income Tax Brackets | | | Taxable Income | | Marginal Tax Rate | Single | Married Filing Jointly or Qualified Widow(er) | Married Filing Separately | Head of Household |
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| 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 |
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