App for Tracking Tax-Deductible Donations
Ever made a donation of goods to a charity and wondered how to track and value those donated items? Now there is an App for that. UDoGood, available on the Apple AppStore allows you to track your donations of clothing, household items, cash, etc. UDoGood is a simple way to document, photograph and record your charitable donations. UDoGood also gives suggestions for determining the fair market value of your donations. At the end of the year you can email your list of donated goods to your tax preparer or to yourself.
Keep in mind that the IRS rules require that donated items be in good condition or better and the amount you deduct for each item should be based on the fair market value for that item. In addition, photographs of donated items are required to be kept to prove their condition. In an audit, the IRS would request a list of each item donated, including the value, date, picture, and name and address of each charity. By using UDoGood, you will have the records you need to support your non-cash donations.
To learn more, check out http://www.udogoodapps.com/