Professionals and non-professionals alike often donate their expertise (such as legal or accounting services, or clerical time) to projects. Unfortunately, donations of services do not translate to a dollar value that can be deducted on one’s taxes as a charitable contribution. In fact, the IRS allows deductions only for certain out-of-pocket expenses (such as travel costs or meals) directly associated with such volunteer commitments. Please advise volunteers to consult their tax advisors on matters associated with deductions.
Articles in this section
- How do we accept online donations?
- Can a donor who gives a gift of service receive a tax receipt?
- Can you help us with fundraising?
- Does Community Partners send donation acknowledgments?
- Can we accept a donation with "strings" attached?
- Can we sell advertising space to corporate sponsors?
- What should we do when hosting an event or fundraiser?
- Are tickets to our fundraising event tax deductible?
- How do we accept donations during an event?
- Do we need a liquor license or special event insurance?