Author Topic: What’s the best way to keep track of the tzedaka that you give?  (Read 12429 times)

Offline grodnoking

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #20 on: July 11, 2020, 11:23:49 PM »
Only on things that common sense won't solve.  ;)
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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #21 on: July 11, 2020, 11:25:09 PM »
As a maaser only account, I would have none of those criteria. I would have a transfer in a few times a month (from Chase), and checks and debit purchases paid out to tzedakah.

Bill pay can be used to pay tzedaka. ACH transfer/deposit from PayPal, CashApp or anywhere else satisfies the direct deposit requirement.

There are plenty of other banks that offer free accounts.
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Offline Yo ssi

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #22 on: July 11, 2020, 11:25:28 PM »
As a maaser only account, I would have none of those criteria. I would have a transfer in a few times a month (from Chase), and checks and debit purchases paid out to tzedakah.
There's lots of free banks, I would choose one based off your location.
In addition IRC it's recommended not use the banks of your main credit cards.
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Offline YitzyS

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #23 on: July 11, 2020, 11:27:38 PM »
Bill pay can be used to pay tzedaka. ACH transfer/deposit from PayPal, CashApp or anywhere else satisfies the direct deposit requirement.

There are plenty of other banks that offer free accounts.
Interesting, thanks!

Online etech0

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #24 on: July 12, 2020, 12:00:16 AM »
As a maaser only account, I would have none of those criteria. I would have a transfer in a few times a month (from Chase), and checks and debit purchases paid out to tzedakah.
Would the transfer in count as DD?
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Offline Essen est zich

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #25 on: July 12, 2020, 12:09:11 AM »
I have a DD of %10 of my paycheck sent to a ally checking account. Free checks are always useful.
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Offline justaregularguy

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #26 on: July 12, 2020, 12:48:32 AM »
all on my phone.
i get an email when my next invoice/paycheck is coming in and the amount.
i immediately calculate the maaser (15% for me )
add it to my notes in my phone with all the other amounts.
once in a while i check what i have to give and give accordingly.
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Offline zh cohen

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #27 on: July 12, 2020, 12:52:39 AM »
Not practical for people that don't have a payday.

Why not? Any time you put money in your personal checking account, immediately transfer 10% to your tzedaka account.

Offline sguitarist18

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #28 on: July 12, 2020, 12:58:14 AM »
Related - how do you calculate and track interest/dividends/capital gains?

Offline Kobe Bryant

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #29 on: July 12, 2020, 01:08:34 AM »
Why not? Any time you put money in your personal checking account, immediately transfer 10% to your tzedaka account.
I find this to be the simplest system.
Transfer 10% of income to separate Maaser account and make all payments from that account.

Offline good sam

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #30 on: July 12, 2020, 08:04:40 AM »
I opened a Fidelity Donor Advised Fund. All money is tax deductible on the way in. Very easy to keep track of.
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Offline Naftuli19

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #31 on: July 12, 2020, 11:35:43 AM »
Just give and don't keep track works for me.
I actually do the same and then when i file my taxes i go through the receipts that i got on email
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Offline Naftuli19

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #32 on: July 12, 2020, 11:36:39 AM »
I opened a Fidelity Donor Advised Fund. All money is tax deductible on the way in. Very easy to keep track of.
Like OJC?
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Offline chulent613

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Offline cubicles

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #34 on: July 12, 2020, 12:02:33 PM »
I opened a Fidelity Donor Advised Fund. All money is tax deductible on the way in. Very easy to keep track of.
can you donate via cc ? what are the fees?

Online Mikeoracle

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #35 on: July 12, 2020, 12:38:14 PM »
Like OJC?
yes. I use the donor fund, which is Lakewood based. ACH to transfer money in.
 I get certificate books in any denomination to local collectors and online payments to registered charities.

I keep a separate bank account(transfer in 10% for every paycheck/payment received) and separate charity CC that gets paid from that account. Transfers to the donor fund come from that account. Makes it easy to keep track of what I have available.
Tax time I just need to download 2 statements (bank and CC).

Offline aygart

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #36 on: July 12, 2020, 01:03:07 PM »
Not practical for people that don't have a payday.
When giving charity through a business entity have a Quickbooks account set up for charity and for advertising expenses through charities. You can also have a charity subaccount of member draws for anything transfered to a personal account used for charity.
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Offline good sam

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #37 on: July 12, 2020, 01:50:48 PM »
can you donate via cc ? what are the fees?
No cc. No fees.
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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #38 on: July 12, 2020, 03:10:21 PM »
When giving charity through a business entity have a Quickbooks account set up for charity and for advertising expenses through charities. You can also have a charity subaccount of member draws for anything transfered to a personal account used for charity.

That would be simple if the accounting would be that simple. It is also useful in retrospect once taxes are filed. Often in real-time I'm in guessing mode. Especially when dealing with multiple entities and revenue streams.
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Online etech0

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #39 on: July 12, 2020, 03:16:18 PM »
I use Mint to classify and check all my transactions. After I check/change the category, I give them a tag "ok". I can filter by transactions without that tag to see what needs to be looked at. If something relates to maaser (ie: either income or a donation), I also give it a tag "maaser". Once in a while I go through all the transactions with that tag, log them in a spreadsheet, and remove the tag. My spreadsheet figures out how much I owe for maaser and subtracts what I've given, and keeps a running total so that when it is up to date, I can see if I owe any maaser.
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