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#8
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| "Robby J." <robby_johnson90[at]hotmail.com> wrote: - quote - > I created 2 custom Access database programs for my church
You can only deduct what you paid for your time. Since you> free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. Thanks don't pay yourself, the answer is zero. You can, however, take a deduction for any out-of-pocket costs such as disks, paper, etc. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#7
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| "Robby J." <robby_johnson90[at]hotmail.com> wrote: - quote - > I created 2 custom Access database programs for my church
For tax purposes, you are not allowed to take a charitable> free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. Thanks contribution for the value of your time even if done for a charitable purpose. Wayne Brasch, CPA, M. S. Taxation << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#6
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| - quote - > I created 2 custom Access database programs for my church
Sure you can. But you will have to claim all the income on> free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. Thanks Sch C and pay SE tax on the profits, and deduct the value of your time on Sch A. Of course, this will have you owing tax, so the real answer is your time is of no value in deducting a charitable contribution. Helen, EA in PA Member of The Tax Gang President, PA Society of Enrolled Agents Campaigning for NAEA Board of Directors - Looking for YOUR vote << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#5
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| robby_johnson90[at]hotmail.com (Robby J.) writes: - quote - > I created 2 custom Access database programs for my church
No. If you had out-of-pocket expenses, they are deductible,> free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. but not the value of your time. Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#4
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| Robby J. <robby_johnson90[at]hotmail.com> wrote: - quote - > I created 2 custom Access database programs for my church
You can deduct only the out-of-pocket expenses you incurred.> free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. Thanks The value of your time and services performed in not tax deductible, though you should get a good feeling out of doing this work. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#3
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| robby_johnson90[at]hotmail.com (Robby J.) writes: - quote - > I created 2 custom Access database programs for my church > free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. Thanks NOPE!!!=(: Time is NEVER deductible unless you are paid for it. You may then apply your expenses to the income. The bottom line would then be taxable to you. Your costs for product, supplies, equipment, and mileage could be deductible as a contribution to charity on Schedule A "Itemized Deductions". "Jack" - John H. Fisher - TaxService[at]aol.com Philadelphia, Pa - Atlantic City, NJ - West Wildwood, NJ My Newsgroups & Boards at: http://members.aol.com/TaxService/index.html Where Ignorance is bliss, 'tis folly to be wise!= ![]() << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#2
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| Now THAT one I understand. IRS has always said the value of your own time is not allowed as a charitable contribution. Its even in Pub 17. Any out-of-pocket expenses are, such as paper, printer ink, software, perhaps some charge for use of your own computer and electrictity (since you know your hours), telephone, miles back and forth to the church to get data...... Nan, EA in LA. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
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| "Robby J." <robby_johnson90[at]hotmail.com> wrote: - quote - > I created 2 custom Access database programs for my church
Simple answer - NO. Time is not a charitable deduction.> free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. Thanks --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.537 / Virus Database: 332 - Release Date: 11/6/2003 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| robby_johnson90[at]hotmail.com (Robby J.) writes: - quote - > I created 2 custom Access database programs for my church
While God may smile upon you, there is no tax deduction for> free of charge. Can I deduct this from my taxes as a > charitable contribution? (by multiplying the number of hours > I worked on the project with my hourly rate at work.) I > work in the computer field. your time. If there were, we would all contribute a minimum of one day a week to a not-for-profit to reduce our taxes. You do get to deduct you mileage and out-of-pocket expenses. Dick << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
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| I created 2 custom Access database programs for my church free of charge. Can I deduct this from my taxes as a charitable contribution? (by multiplying the number of hours I worked on the project with my hourly rate at work.) I work in the computer field. Thanks << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| charitable, contribution, question |
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