It’s
a New Year and what a better way to spend the year new year than by saving a
few bucks? You may not give big dollars or throw a big fundraising soirée
but your volunteer time is valuable to us too.
During
this season of giving, we want to let you know how much the giving of your time
means to us. Time is such a precious gift, and through the time taken out of
your busy schedule, time away from family or friends, you are impacting the
lives of our families. As a small way to say thank you, we wanted to share the ways
to deduct certain volunteer expenses on your tax returns this year.
Here
are a couple of items that the IRS allows volunteers at a nonprofit to deduct
from their taxable income (These can be verified through the volunteer
coordinator of Easter Seals Florida):
Car
and transportation expenses
This
includes expenses such as, but not limited to, back and forth from home to
office, meetings, or events. This can be recorded as actual gas used or by
keeping track of the mileage at the rate of 14 cent per mile.
Travel
expenses
This
includes expenses such as, but not limited to, airfare, other transportation,
accommodations, and meals when preforming services away from home.
Other:
Out-of-pocket expenses
Includes
expenses such as, but not limited to, supplies for arts and crafts, new books
purchased, printed materials for activities, background screening (unreimbursed),
etc.
For
more information on the limitations of tax deductions please visit, http://www.nolo.com/legal-encyclopedia/remind-nonprofit-volunteers-tax-deductions-29659.html.
If
you would like more information about volunteerism at your local Easter Seals
please visit www.fl.easterseals.com/volunteering. Can’t wait
to hear how much you saved this year. #SavingBig #TaxBreak
