Time and Taxes: The Deal with Deductions
A lot of non-profits use the lure of tax deductions to get free work from vendors, contractors, etc. But what can you really deduct on your taxes?
One of the most popular articles on my web developer blog, grundyhome.com answers this question. After hearing a few discussions of this lately, I thought it was worth sharing here as well.
The short answer, in case the suspense is killing you, is that you can’t deduct the “value” of your time.
So now that I’ve pulled the rug out from under you, just how do you get help without paying a competitive rate? That’s the topic of my next article.
andar909 Said,
August 10, 2008 @ 2:52 pm
hi, andar here, i just read your post. i like very much. agree to you, sir.
Some Tips on Qualified Deductions from USA Today :: Non-Profit Chas :: Non-Profit Marketing, Fundraising, Management, and Technology Said,
October 7, 2008 @ 2:06 pm
[...] written before about how tax deductions for donating time but I generally try to stay away from legal and tax issues (I’m no lawyer or accountant). But [...]