Donate my time during holiday season

8 years 6 months ago #456982 by Allen D
I'd like to do some giving back to the community or something this year.  When donating time, are you able to write off all the time?


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8 years 6 months ago #456992 by garyrhook

Allen D wrote: I'd like to do some giving back to the community or something this year.  When donating time, are you able to write off all the time?


With regards to federal taxes, you're not allowed to write off any of your time.

Talk to a tax expert.


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8 years 6 months ago #457003 by Overread
agree, talk to your tax person 


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8 years 6 months ago #457127 by ShutterPal
Run this buy your CPA


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8 years 6 months ago #457423 by Miss Polly
When it comes to taxes, you'll get many good opinions online, the best thing is to speak with your tax professional. 


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8 years 6 months ago #457454 by TGonzo
So if you could get a write off, it would be just with the state?


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8 years 6 months ago #457587 by Joves
To me if you want to give back to the community do not worry about getting a tax break for it. To me that is not giving. I know I maybe old fashioned on such things, but that is what I think. Now I have shot some photos for local food banks before, and had them give me a receipt for the value of the photos, but not for the time. But then I was asked to do it. If I voluntarily do it then no. I generally only offer for true non profits, or locals. The national non profit for profits, I would charge.


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8 years 6 months ago #457613 by garyrhook

Miss Polly wrote: When it comes to taxes, you'll get many good opinions online, the best thing is to speak with your tax professional. 


Well, the first thing to do is to actually read the instructions for filling out the 1040 (long) form. It's very clear about time donated to charitable causes. It does not take a CPA or a tax lawyer to understand most of our tax law that applies to fairly simple situations. Of which this is one.

I'm a big fan of becoming reasonably informed first, then going to an expert to ask intelligent questions. But it turns out that's not even required in this situation.


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8 years 6 months ago #457881 by Colorado Mike
:agree:   good post


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8 years 6 months ago #457892 by effron
Joves is correct. If you are in the charitable mood, why do you need a tax advantage?

Why so serious?
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8 years 6 months ago #457959 by Hoss
+1 just do it and leave it as something good you did


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