If a job is done for a non-profit organization and it costs $25,000, is any of that elligible for a tax break?
2007-07-09 08:20:38 · 4 answers · asked by Frank M 2 in Business & Finance ➔ Taxes ➔ United States
if they are paying you for the project then no your cost are not tax-deductable, if you are doing the job for free as a charity contribution then the market-value of your services should be tax-deductable.
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2007-07-09 08:26:03 · answer #1 · answered by Anonymous · 0⤊ 2⤋
For whom?
The only tax break is that the non-profit might not have to pay sales tax on the job.
As far as your taxes, you are getting paid and taxes on the income will work just like any other job. If you are doing the job for free, your out of pocket expenses (NOT what you'd otherwise charge for the job) would be tax-deductible if they are a 501(c)3 organization.
2007-07-09 15:37:10 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
I don't know for sure, but I would guess that the answer is "No." You're not donating your time, you're getting paid to do a job. The fact that you've been hired by a non-profit organization probably doesn't affect that.
But, like I said, I'm not sure...I'm just guessing on this one.
2007-07-09 15:24:35 · answer #3 · answered by Adam S 3 · 0⤊ 0⤋
Only if you aren't charging them then it will all be deductible.
2007-07-09 15:23:33 · answer #4 · answered by Deb S 6 · 0⤊ 0⤋