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URL:  http://boards.fool.com/wondering-why-the-record-keeping-is-such-a-chore-29249541.aspx

Subject:  Re: Charitable Donations Date:  4/20/2011  1:16 AM
Author:  fleg9bo Number:  113229 of 121061

Wondering why the record keeping is such a chore. Ever hear of Quicken?

I stick all medical and charitable receipts into their respective manila folders inside a tax file for each year and periodically arrange them in chronological order. I keep track of our expenditures on a monthly basis. At the end of each month I go over the credit card bills and bank statement and enter all medical and charitable expenditures into an Excel spreadsheet. At the end of the year I match the spreadsheet against the receipts. Nothing as sophisticated as Quicken is needed. It takes me probably no more than an hour per year total to come up with our medical and charitable deductions for Schedule A--90 minutes tops.

--fleg
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