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.