You can't be serious, people!

It would be a nice loophole in IRC: someone would be able to
hire a programmer from India for peanuts to do the job,
claim it was their job and deduct it. It wouldn't be quite
100% legal, but it would be easy to do and hard to audit.

Hmmm.. so are you guys absolutely positive there's no way to
deduct donated time?

- S

Moderator:
Absolutely positively without a doubt or we would all be
doing it. I easily donate 800 hours a year to moderating
this newsgroup. No way is one minute of it deductible on
my tax return.


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- quote -

Well, thank goodness, we don't HAVE to count these days.

When I prepared my first tax return, I used an adding
machine; no, not a calculator, but a genuine adding
machine. Nowdays of course the software does all the
counting for you.

ChEAr$,
Harlan Lunsford, EA n LA

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Moderator: This thread is now closed.
-----
- quote -

To me, the reply was the whole sentence, which is 9 words.
On the other hand, you could consider the reply to be: "no,
you cannot deduct your time." That is 6 words. The poster
did not say, "no." He said, "No, you cannot deduct your
time."

An answer is a response to a question and the response in
this case was either 6 or 9 words, depending on what you
consider to be the response to the question.

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- quote -

But they all prepare tax returns.

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"David Woods, EA, ChFC, CLU" <dwoods[at]woods-financial.com> wrote:
- quote -

That is actually one word.

Nobody counts correctly.

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David Woods, EA, ChFC, CLU wrote:
- quote -

Depending on what you consider to be the answer, I see
either 6 or 9 words.

Lanny K. Williams, CPA
Nawarat, Williams & Co., Ltd.
Income Tax Services for Expatriate Americans

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"David Woods, EA, ChFC, CLU" <dwoods[at]woods-financial.com> wrote:
- quote -

You mean eight (or five) words too many. It's a good thing
you guys use computer programs to do your tax returns.

Stu

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"effi" <effi[at]ev1.net> wrote:
- quote -

That's eight words.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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"effi" <effi[at]ev1.net> wrote:
- quote -

That's eight words.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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nomail1983[at]hotmail.com wrote:

- quote -

The value of your time is ZERO. You may deduct zero all you
want.

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news:11lbjm7khcf3e93[at]corp.supernews.com...

- quote -

consider spending that time working and getting paid by
customers then donating the money to the charity

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<nomail1983[at]hotmail.com> wrote:

- quote -

One word answer, no, you cannot deduct your time.

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<nomail1983[at]hotmail.com> wrote:

- quote -

If you incur direct expenses in donating your time, those
expenses are deductible as a charitable contribution (e.g.,
you bring supplies with you to the library to do your
volunteer work). Your time however, cannot be assigned a
value and is non-deductible.

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nomail1983[at]hotmail.com wrote:

- quote -

Good news! You don't need to worry about all your questions
like how much your time is worth, and what the going rate
is! Imagine how much time this will save you in research!

Bad news! You can't deduct your time! (See IRS Pub 526
(http://www.irs.gov/pub/irs-pdf/p526.pdf), page 6.)

--
----------------------------- Regards -

- Andrew

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<nomail1983[at]hotmail.com> wrote

- quote -

Nope.

Not under any circumstances.

--
Paul A. Thomas, CPA
Athens, Georgia

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No. Treasury Regulation 1.170A-1(g), 26 CFR 1.170A-1(g),
does not permit a deduction for the contribution of
services. You may, however, deduct certain expenses related
to your contribution of services. The IRS provides general
information in Publication 526 (you can get it online from
www.irs.gov).

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To answer your question in one short word, NO.
Your time is worth ziltch when it comes to donation of time.
But, any out of pocket expenses are deductable under
charitible deductions on schedule A, second line.

Missy Doyle

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<nomail1983[at]hotmail.com> wrote:

- quote -

No.

The value of your time and services would not be deductible.
Only actual out-of-pocket expenses would be deductible.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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You can't deduct the value of your time, so don't bother
trying to evaluate it. You can deduct any out-of-pocket
expenses, including mileage at the reduced rate applicable
to charitable contributions.

Katie in San Diego

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nomail1983[at]hotmail.com wrote:

- quote -

Your time has NO VALUE for tax purposes and is not
deductible. However, any out-of-pocket expenses and mileage
directly related to this volunteer work are deductible
(assuming your itemized deductions exceed the standard
deduction amount for your filing status). That is why it is
called VOLUNTEERING!

- quote -

All irrelevant.

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