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Finance Tip of the Day

Cam I Claim my “Volunteer Time” as a Charitable Deduction?

  • 2016 15 Jul
  • COMMENTS
Cam I Claim my “Volunteer Time” as a Charitable Deduction?

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Cam I Claim my “Volunteer Time” as a Charitable Deduction?

There are many items we can claim as deductions on our taxes. We should be careful, however, since claiming wrong write-offs can cause unwanted IRS audit!

Even though you can NOT deduct your time as a charitable donation, every time you volunteer you can deduct the following:

  • mileage associated with your particular volunteer work
  • unreimbursed out-of-pocket expenses

Today's tip brought to you by Mvelopes and Money4Life Coaching.


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