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Member
This is a summary of an article in the commuity paper today. If you are a volunteer coach for a non-profit organization - this should apply to you. If there are any members that are CPAs or Tax experts - chime in if this applies to travel softball
If you did volunteer work for a charitable organization last year and you itemize deductions on your tax return, you may be able to count some of your expenses as charitable donations on your federal income tax return.
Unfortunately, you may not deduct the cost of your time, which often is the biggest contribution volunteers make.
This is true even if the organization would have had to pay someone else to do the same job.
As long as you weren't reimbursed for your car travel, you can deduct out-of-pocket expenses incurred in traveling to and from the place where you volunteer, or travel done on behalf of a charitable organization.
However, you may choose only one of two options: you may deduct the actual cost of gas and oil used in these activities; or, you may use the standard mileage rate of 14 cents a mile.
Parking fees and tolls are deductible. Just make sure you keep appropriate records so you can back up your deduction.
The costs of repairs, maintenance, tires, and insurance are not deductible, nor are registration fees or depreciation.
Did you roll up expenses from an overnight trip taken for a charitable organization? If the answer is yes - for example, if you traveled to a conference - you may be able to deduct your unreimbursed transportation costs and lodging and meal expenses. Just remember that you can't deduct the costs of personal entertainment or the costs of family members who accompanied you.
If you purchase materials such as paper, envelopes, ink cartridges and other supplies and use them for volunteer work for a qualified organization, you can deduct any unreimbursed expenses. The wisest course of action at tax time is to consult an expert.
If you did volunteer work for a charitable organization last year and you itemize deductions on your tax return, you may be able to count some of your expenses as charitable donations on your federal income tax return.
Unfortunately, you may not deduct the cost of your time, which often is the biggest contribution volunteers make.
This is true even if the organization would have had to pay someone else to do the same job.
As long as you weren't reimbursed for your car travel, you can deduct out-of-pocket expenses incurred in traveling to and from the place where you volunteer, or travel done on behalf of a charitable organization.
However, you may choose only one of two options: you may deduct the actual cost of gas and oil used in these activities; or, you may use the standard mileage rate of 14 cents a mile.
Parking fees and tolls are deductible. Just make sure you keep appropriate records so you can back up your deduction.
The costs of repairs, maintenance, tires, and insurance are not deductible, nor are registration fees or depreciation.
Did you roll up expenses from an overnight trip taken for a charitable organization? If the answer is yes - for example, if you traveled to a conference - you may be able to deduct your unreimbursed transportation costs and lodging and meal expenses. Just remember that you can't deduct the costs of personal entertainment or the costs of family members who accompanied you.
If you purchase materials such as paper, envelopes, ink cartridges and other supplies and use them for volunteer work for a qualified organization, you can deduct any unreimbursed expenses. The wisest course of action at tax time is to consult an expert.
