I want to build a web site for a non-profit... can i get a tax refund on my time?
2007-02-06 04:08:16 · 5 answers · asked by Myles 1 in Business & Finance ➔ Taxes ➔ United States
No. The value of your time is never deductible.
2007-02-06 04:11:15 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
No. You can take tax deduction for the expenses you incure to build and maintain the charity web site if the charity is an eligible one. But your can't write off your time ( how do assess your time 10/hr, 100/hr, 1000/hr, ???) It will be a big question.
2007-02-06 12:13:10 · answer #2 · answered by onlinetaxsiteswatch 2 · 0⤊ 0⤋
Monetary expenses can get you a deduction. But your time, alone will not. There are greater benefits to be had by donating your time.
2007-02-06 12:17:40 · answer #3 · answered by kj 7 · 1⤊ 0⤋
No, you can't deduct the value of your time. If you itemize, you can deduct any out-or-pocket expenses that you incur though.
2007-02-06 12:14:59 · answer #4 · answered by Judy 7 · 1⤊ 0⤋
yes you can deduct all expenses including time an mileage to an from your business
2007-02-06 12:12:45 · answer #5 · answered by rdwmktg12 1 · 0⤊ 4⤋