Video Tips: Ever Wonder What Tax Breaks Are Available for Volunteers?
Volunteering for a non-profit charity can offer valuable tax breaks and advantages with itemized tax deductions. Watch this video for a quick view of what qualifies as deductible out-of-pocket expenses.
August 17, 2024
Volunteering for a non-profit charity can offer some valuable tax breaks and advantages. While you cannot deduct the value of your time or services, you can claim deductions for certain out-of-pocket expenses related to your volunteer work, such as travel, supplies, and uniforms. Keeping accurate records and obtaining written acknowledgments for donations over $250 are essential to maximize these tax benefits.
