Volunteering time NOT tax deductible, but out-of-pocket expenses ARE
One way to give to charity is through donating your time, energy, and skills to the causes you care most about. The IRS does not allow a charitable deduction for volunteering your services. However, out-of-pocket expenses relating to volunteering are deductible.
Out-of-pocket expenses are deductible if the expenses are:
- directly connected with the services;
- expenses you had only because of the services you gave; and
- not personal, living, or family expenses.
Out-of-pocket charitable expenses which might be deductible include the cost of transportation (including parking fees); travel expenses while you are away from home performing services for a charitable organization; unreimbursed uniforms or other related clothing worn as part of your charitable service; and supplies used in the performance of your services.
As with other donations, keep good records…documentation is key!
If you have any questions I would love to be of assistance. (After all, the mission at Gordon Fischer Law Firm is to maximize charitable giving, which certainly includes volunteer time.) Reach out to me at any time via email or by phone (515-371-6077)