4 ms·
Can you bill the time as a tax write-off?
by KRAKRISMOTT 4y ago
Can you bill the time as a tax write-off?
- devsda 4y agohow does it work in practice? Are you expecting to offset the potential value of your donation(billable consulting hours) against your actual income ? If true, this has so much potential for fraud and abuse that I doubt this is allowed. Imagine a motivational speaker billing businesses for one week and "donating" time for another week to charities effectively nullifying their income. I think write-offs are generally on cash basis and on expenses incurred.
- seattle_spring 4y agoNo. If you mean "deduction", then the answer is still no.
- xboxnolifes 4y agoEven if you could get a charitable donation deduction here, it would be for $0. Charity deductions are only on the amount being donated, and $0 was donated, $0 is being taxed, so $0 is being deducted.