 |
About
I am a homeschooling mother and Certified Public Accountant (CPA) combining my experience and knowledge to help homeschool organizations such as co-ops, support groups, music and sports programs. HomeschoolCPA answers questions from homeschool leaders on many topics such as nonprofit status, liability, paying teachers, tax exempt status and taxes.
My New Book
Recent Posts
Newsletter
Email This Blog
Links
Categories
Popular Posts
|
|
1:03 PM, Aug. 10, 2006
Gas prices crimping your volunteering?
(view similar articles on Non Profit Organizations)
Do the high gas prices put a crimp in
your volunteering? I'm thinking twice about driving
distances before I volunteer to drive somewhere.
Here's a story from the Richmond Times-Dispatch on volunteers who keep giving even though it costs more. Best quote from the story:
"That is what volunteering is all about, to give up something for the betterment of society"
Well to ease the pinch a bit, the IRS allows a deduction for volunteer
miles. In 2005 the rate was $.14/mile. The IRS doesn't adjust
this very frequently, unlike business mileage, that is adjusted for
fluctuating gas prices.
So when you drive for volunteer
efforts such as to a homeschooling board meeting or to help at church,
add up your miles. When you file your tax return, take those
miles as a charitable deduction on your Schedule A Itemized Deductions.
Hope that helps!
Carol
|
View Comments (0)
Add Comment
Permanent Link
EMail A Link To This Article To A Friend
|
|
|
