- quote -

Can you please elaborate on this. I think I can make them
give me payments and I can donate the same back... Can this
work. I have really spent quite a lot of time and given them
soemthing that would cost thousands of dollars.

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cj.green[at]worldnet.att.net (Christopher Green) wrote:
- quote -

However, this would still be income and would be taxed and
probably subject to self-employment tax too. In most
situations you come out ahead, but what a bit of work.

bex

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CT wrote:

- quote -

There is no deduction for your time.

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come_try[at]yahoo.com (CT) wrote:

- quote -


The value of your time cannot be taken as a charitable
contribution -- unless you go to the perverse lengths of
accepting payment from the 501(c)(3) and then donating it
back in cash.

--
Chris Green

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- quote -

You can't. You cannot deduct the "value of your time or
services."

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come_try[at]yahoo.com (CT) writes:

- quote -

You can't. Donations of tiem to charitable organizations
are not deductible.

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come_try[at]yahoo.com (CT) wrote:

- quote -

You may take deductions of any out of the pocket expenses on
schedule A, but you time is worth -0-.

Missy Doyle IL

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- quote -

You were a good friend to offer your services to his
organization. The only contribution deduction you would
have is any out of pocket expense you incurred in doing the
work. Your time is not deductible.

Mary Ann Thomas, EA in AZ

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come_try[at]yahoo.com (CT) wrote:

- quote -

There is no deduction for your time, only for your
out-of-pocket expenses.

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First - a "not-for-profit" isn't necessarily charitable. I
know a trailer recreation group that's not for profit.....

Second - your time is never a deduction.
Expenses are. A Sunday School teacher may deduct books,
paper, crayons but not the value of her time.

Nan, EA in LA

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come_try[at]yahoo.com (CT) writes:

- quote -

Only your out-of-pocket expenses qualify.
See Publication 526.

Phil Marti
Topeka, KS

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come_try[at]yahoo.com (CT) posted:

- quote -

Sorry, the value of your time is not a deductible
contribution. Only tangible assets (money, items of
clothing, cars, stock, etc.) can be used for Schedule A
contributions.

Bill

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CT wrote:

- quote -

Short answer; there is no deduction.

Long answer; there IS no long answer.

cheer$,
Harlan Lunsford, EA n LA

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"CT" <come_try[at]yahoo.com> wrote:

- quote -

Deductions for the value of your time are not allowed. But
any actual expenses incurred (purchasing software for them,
paper used for printing out any instructional materials,
mileage to their site to do the volunteer work) would be
deductible.

Leigh

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come_try[at]yahoo.com (CT) wrote:

- quote -

This has got to be one of the all-time FAQs for this group.
You can deduct out-of-pocket expenses, you can't deduct the
value of your time.

--
Barry Margolin, barmar[at]alum.mit.edu
Arlington, MA

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come_try[at]yahoo.com (CT) writes:

- quote -

You can't. As far as tax deductions for charity
are concerned, your time is worthless. Only actual
out-of-pocket expenses count.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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Newsgroups: misc.taxes.moderated

Hi,

I did some volunteer work for a colleague on creating
a website for his 501(c)(3) designated not-for-profit
foundation. How can I get tax deductions for this.
I guess I spent a few hours for this but I did not
take money for it.

Please advice.

Thanks.

CT.

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