Press Releases

Intuit and Income Dynamics Team up to Save TurboTax Customers even more on Taxes
ItsDeductible™ will increase TurboTax customers' tax savings by $300 or more guaranteed.
San Diego - November 19, 2002 - Intuit Inc., the maker of TurboTax® software, and Income Dynamics, Inc., the maker of ItsDeductible, are announcing a partnership that could help TurboTax customers maximize their savings when it comes to non-cash charitable deductions.

Every year millions of Americans donate bags of used clothing, toys or other household items to charity. Unfortunately, the majority are forfeiting hundreds of dollars of legal tax savings simply because they underestimate the value of their donated items. While it is the taxpayer's legal right to deduct the "fair-market-value" of those items (IRS Publications 526 and 561), many taxpayers are unsure as to how to accurately determine that value. As a result, most simply guess. For example, a taxpayer might value a bag of clothing at only $50, when the actual fair-market-value could be as much as $300 or $400. Ultimately, the result of this inaccurate valuation is overpaid taxes.

ItsDeductible is a revolutionary software tool that includes a proprietary database of actual fair-market valuations for thousands of commonly donated items. ItsDeductible assigns fair-market valuations to donated items, allowing taxpayers to stop guessing and start taking full advantage of their charitable deductions. With ItsDeductible, customers are saving hundreds on their taxes year after year. In fact, ItsDeductible guarantees at least $300 in tax savings.

ItsDeductible will be offered on the TurboTax and Intuit websites as well as from within TurboTax programs. TurboTax customers will have the opportunity to purchase and install ItsDeductible directly from their TurboTax CD. Once the customer records and values their donations with ItsDeductible, the information is directly transferred into their tax return.

Tom Allanson, Senior Vice President of Intuit's consumer tax group says, "We are constantly looking for opportunities to provide even greater value to TurboTax customers. ItsDeductible provides a great value-added benefit by ensuring that customers maximize their charitable deductions."

ItsDeductible is available at www.shopintuit.com. TurboTax customers will have the opportunity to purchase ItsDeductible at a discounted price of $19.95 (suggested retail: $29.95). The offer also includes free DatAssure™ Warranty, a $10 value. ItsDeductible guarantees customers will save at least $300 on their taxes or their money back.

About Intuit Inc.
Intuit Inc. (NASDAQ: INTU) is a leading provider of business and financial management solutions for small businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax®, simplify small business management and payroll processing, personal finance, and tax preparation and filing.

Founded in 1983, Intuit has annual revenue of more than $1 billion. The company has over 6,000 employees with major offices in 11 states across the U.S. and offices in Canada, Japan and the United Kingdom. More information can be found at www.Intuit.com.
 
About Income Dynamics, Inc.
Income Dynamics is the nation's premier provider of fair market valuations to the corporate and consumer marketplace. Using patent-pending Intelligent Indexing™ technology, combined with a nation-wide network of manual data collection, Income Dynamics has developed systems to collect, organize and present millions of records in order to provide values and pricing information for companies and consumers. Their core product, ItsDeductible™ (patent pending), allows taxpayers to accurately value their non-cash donations and receive the full deduction to which they are legally entitled.