Content Overview
- Summary
- How To Determine If An Organization Qualifies As An IRS Charitable Organization
- Limit On Total Amount Of Deductible Charitable Contributions
- If Any Single Charitable Contribution Is $250 Or More
- Charitable Contributions Made By Payroll Deduction
- Contributions Of Time To Charitable Organizations
Charitable Contributions: Tax Considerations
Contributions Of Time To Charitable Organizations
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You cannot deduct the value of your time, even if it is used to raise money for the organization, and even if the activity is the same way you earn your living. For example, if you are lawyer and you draft a contract for a charity, the value of your time is not deductible.
However, costs related to volunteer work are deductible, including the following:
- The cost and upkeep of uniforms that are not suitable for everyday use that you must wear while performing volunteer services.
- Transportation expenses for travel to and from your volunteer work site. If you travel by car, you can deduct the cost of gas and oil or $.14 per mile traveled in 2008, plus parking fees and tolls.
- The cost of public transportation.
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