Author Topic: What’s the best way to keep track of the tzedaka that you give?  (Read 2001 times)

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?

Offline 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.
Just because things turned out a certain way doesn't mean you were right.

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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Offline ExGingi

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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.
Workflowy. You won't know what you're missing until you try it.

Offline YitzyS

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #40 on: September 23, 2020, 07:42:48 PM »
So I finally decided to just pay for another Chase account, because it would be much simpler and I really needed an account already. When looking at the options, I saw they have a new type of account, called Chase Secure Banking. It's a flat fee of $4.95 monthly, and it only allows debit card transactions (not checks). You can see details here: https://media.chase.com/news/chase-launches-new-checking-account

Now for my question: Having paper checks will be helpful at times. What is stopping me from just ordering checks with the routing and account number Chase supplies? If I can do it, which routing number should I use.



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Online Yo ssi

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #41 on: September 23, 2020, 07:44:55 PM »
So I finally decided to just pay for another Chase account, because it would be much simpler and I really needed an account already. When looking at the options, I saw they have a new type of account, called Chase Secure Banking. It's a flat fee of $4.95 monthly, and it only allows debit card transactions (not checks). You can see details here: https://media.chase.com/news/chase-launches-new-checking-account

Now for my question: Having paper checks will be helpful at times. What is stopping me from just ordering checks with the routing and account number Chase supplies? If I can do it, which routing number should I use.

Why not open a free account somewhere else??

Offline YitzyS

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #42 on: September 23, 2020, 07:54:08 PM »
Why not open a free account somewhere else??
Please tell me a bank that is a member of Zelle and offers free, hassle-free accounts?
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Online cholent

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #43 on: September 23, 2020, 07:59:03 PM »
Sometime in mid December, I look through my checkbook and make a list.  That worked in until recent years when I have to go through my many credit card accounts, paypal and other electronic accounts. Mint.com helps.
Anything $250  and above goes in a different column and I check if I have a receipt (for tax reasons).
I compare the total and my income to see how much more I need to give. And do so.


I have a spreadsheet where I've recorded it as I've paid it out.  But I'm not reliable in filling in the data as it's generated. 


Don't follow my example.  ;D
Exactly my method, unfortunately
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Offline Realshlomo

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Re: What’s the best way to keep track of the tzedaka that you give?
« Reply #44 on: September 23, 2020, 08:02:53 PM »
Please tell me a bank that is a member of Zelle and offers free, hassle-free accounts?
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