Content area
Full Text
MOUNTAIN VIEW, CALIF. - Intuit's acquisition of Income Dynamics advances the execution of its multi-year strategy to drive growth in TurboTax by providing different taxpayer segments with a full range of "Right for Me" solutions.
Income Dynamics Inc. is the Omaha, Neb.-based provider of ItsDeductible software, which provides tools to help taxpayers to determine the fair market value of items they have donated to charities.
"Income Dynamics' ItsDeductible software is an excellent fit for Intuit and our 'Right for Me' TurboTax strategy," said Steve Bennett, Intuit's president and chief executive officer. "Customers can use the software to quickly and easily obtain the fair market values of hundreds of donated items - including clothing, toys and household goods. This enables taxpayers to stop guessing and claim the full deduction to which they're entitled."
Tax practitioners have long known that they can save their clients time and embarrassment - and probably money by advising them to forgo the traditional garage sale and donate their used items to charity. ItsDeductible allows them to assign values to the donated property which are formulated in the way the Internal Revenue Service specifies.
"Charitable giving is one of the primary areas in which...