You can deduct your expenses related to volunteer work
I just filed my taxes yesterday, and I used Taxcut rather than one of the free tools I mentioned to get free state tax filing. I should have taken my own advice. It ended up costing me $30 to do my state forms and then they wanted another $20 to efile the state taxes. I don’t know, $50 is too much – don’t you think? The problem is that once you have already invested 3-4 hours entering in all the information, it makes it difficult to choose another option…
But anyway, I just wanted to mention as a friendly reminder, you can deduct the mileage you drive to for volunteer work. From what I read, volunteers can also deduct…
- cost of tolls
- parking fees
- cab fares
- bus fares
if they were related to the charitable service.
Options for deducting the expenses
The standard mileage rate is 14 cents a mile in 2008. If you choose you could also deduct the direct expenses by keeping track of gas used.
Recordkeeping for the IRS
A couple years ago I started a separate calendar on Google Calendar that I mark…
- The date and time I volunteered
- The location of the work
- The total number of miles driven
Then each year when tax time rolls around, I just grab a calculator and flip through the calendar adding up the total miles driven for volunteer work. Using a spreadsheet or notebook would work as well, just make sure you have it documented for the tax man!!
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