Need Advice from an Accountant
08-28-2010, 05:02 AM
#1
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Join Date: Apr 2010
Location: New York City UWS
Posts: 4,222
What is the best way for us to document charitable donations in terms of tax deductions? Materials? Postage? Every little deduction helps. Most of us have the ability to photograph our contributions and generate receipts. Hmm, how to edit typo in title?
08-28-2010, 05:18 AM
#2
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Join Date: Aug 2010
Location: Phoenix, AZ suburb
Posts: 4,664
The booklet that comes telling you how to file your taxes gives very explicit instructions on what you can deduct for mileage, etc. And keep all those receipts. My tax guy discourages me from putting a $ value on labor.
08-28-2010, 05:44 AM
#3
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Join Date: Jul 2009
Location: Southwest Kansas
Posts: 4,820
Originally Posted by dotcomdtcm
What is the best way for us to document charitable donations in terms of tax deductions? Materials? Postage? Every little deduction helps. Most of us have the ability to photograph our contributions and generate receipts. Hmm, how to edit typo in title?
08-28-2010, 07:19 AM
#4
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Join Date: Sep 2009
Location: Seattle
Posts: 1,743
Originally Posted by Scissor Queen
You can deduct the value of the materials but not your labor.
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