Custom Search

11 September 2008

Re: [taxchat] Charitable Contribution

that brings up a good point as i've had this happen before:  client did a job for a church.  the church paid the client; the client cashed the check, and then donated it to the church.  charitable deduction was taken, & all expenses in regards to this were busn deductions.  arnie questions as to whether busn or charitable deductions - would have to be charitable as there is no income in this case.
lynne


Debbie Breedlove wrote:

You are correct.  Even if they gave her a "receipt" for her gift, but she cannot deduct the value of her services.  Period.  However, she can deduct any out of pocket expenses she incurred in conjunction with performing the service.  Mileage, supplies, whatever.
 
__._,_.___

IRS Circular 230 Disclosure: Unless expressly stated otherwise in this transmission, any tax advice contained herein, forwarded with or attached to this message was not and is not intended to be used, nor may it be relied upon or used, by any taxpayer for the purpose of (1) the avoidance of any tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax transaction or tax-related matters that may be addressed herein.




Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___
Custom Search