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October 28, 2013

TIPS FOR TAXPAYERS WHO TRAVEL FOR CHARITY WORK

Do you plan to travel while doing charity work this summer? Some travel expenses may help lower your taxes if you itemize deductions when you file next year. Here are five tax tips you should know about travel while serving a charity.

1. You must volunteer to work for a qualified organization. Ask the charity about its tax-exempt status or call us if you have questions about whether a charity you volunteer for is tax-exempt.

2. You may be able to deduct unreimbursed travel expenses you pay while serving as a volunteer. You can’t deduct the value of your time or services.

3. The deduction qualifies only if there is no significant element of personal pleasure, recreation or vacation in the travel. However, the deduction will qualify even if you enjoy the trip.

4. You can deduct your travel expenses if your work is real and substantial throughout the trip. You can’t deduct expenses if you only have nominal duties or do not have any duties for significant parts of the trip.

5. Deductible travel expenses may include:

  • Air, rail and bus transportation
  • Car expenses
  • Lodging costs
  • The cost of meals
  • Taxi fares or other transportation costs between the airport or station and your hotel

Questions? Don’t hesitate to call us. We’re here to help!

 

About Wendroff & Associates, CPA

Located in Arlington, Virginia Wendroff & Associates, LLC is a full service accounting firm, specializing in Tax Strategy, CFO Consulting, QuickBooks Training and Outsourced Accounting. The firm prides itself on its technological advantage and innovative company culture to provide better service to its clients and partners to help them grow their business or organization and reach their professional goals. Wendroff & Associates, CPA provides smart financial solutions and thinks of its clients throughout the year, not just at tax time. For more information on Wendroff & Associates, CPA visit www.wendroffcpa.com.

Wendroff & Associates Media Contact:
Brian Wendroff
Managing Partner
bjwendroff@wendroffcpa.com
703-574-4892

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