Call Us Today! 303-922-4655|stretch@stiltwalker.com

tax deductible donation of your time.

You are here:://tax deductible donation of your time.

tax deductible donation of your time.

Received yet another request for a donation citing an erroneous tax deduction.

“The booth is located next to a kid zone but it is for tips only. However, you can distribute biz cards and they will give you a letter for a service donation, including their 501c non profit number so that you can count it as a tax deductible donation of your time.”

Sorry folks! Can’t be done. Neither the Colorado State Tax code, nor the Federal tax code allows one to deduct for their charitable labor.

Here is what the IRS has to say.

Value of Time or Services

You cannot deduct the value of your time or services, including:

*

Blood donations to the Red Cross or to blood banks, and
*

The value of income lost while you work as an unpaid volunteer for a qualified organization.

Grandpa Stilts for Sale

By |2012-05-06T21:47:39+00:00May 29th, 2009|Uncategorized|0 Comments

About the Author:

Leave A Comment