I would like to start flight instructing for free, yet i was wondering if it's tax deductible.
2007-03-17 15:32:55 · 5 answers · asked by hpw1984 1 in Business & Finance ➔ Taxes ➔ United States
Even if you provide the instruction for a charity, you cannot deduct the value of your personal service. So free teaching is never deductible.
2007-03-18 13:46:36 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
No. Only the costs incurred in a "charitable" activity can be deducted on Sch A. As you describe it, since you are not starting the business for a profit, the IRS will challenge a Sch C business deduction, after a while. You could put the costs on Sch C, IF you intend to charge for the services as a bona fide business
2007-03-17 16:21:42 · answer #2 · answered by jcm945 1 · 0⤊ 0⤋
Only if it is charitable like teaching at church or a woman's shelter. You would have to have a charitable tax free company. Check with the IRS - I am not up to date on what you would need to do to get that status.
2007-03-17 17:34:54 · answer #3 · answered by Wolfpacker 6 · 0⤊ 0⤋
No. Why would you want to provide a service for free anyway?
2007-03-17 17:04:30 · answer #4 · answered by figment_usa 5 · 0⤊ 1⤋
NO
2007-03-17 15:36:26 · answer #5 · answered by cork 7 · 0⤊ 0⤋