If someone has a normal speaker's fee, can this fee amount be claimed as a tax deduction IF the speaker is donating his services to a non-profit?
2007-09-19 12:02:49 · 8 answers · asked by stephy922 1 in Business & Finance ➔ Taxes ➔ United States
No. The person could claim out of pocket expenses (like transportation to get there), but you can never claim a charitable donation for your personal time or services, just your actual expenses. This doesn't change when the services are part of your profession.
Look at it this way - if they paid you, then you donated the fee back to them, the fee would be taxable income, the donation would be a deduction, so it would be a wash.
2007-09-19 14:27:00 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
No, the speaker cannot claim their normal fee as a donation to a non-profit. However, the speaker may be able to claim actual expenses paid to give the speech.
2007-09-19 12:07:24 · answer #2 · answered by Steve 6 · 2⤊ 0⤋
No, however, you do not have to pay tax on the amount that you would have been paid for the service if it had not been donated.
2007-09-19 12:35:12 · answer #3 · answered by StephenWeinstein 7 · 0⤊ 1⤋
No...donating services is not deductible. Mileage is deductible.
2007-09-19 12:05:41 · answer #4 · answered by Bill 6 · 1⤊ 0⤋
No, he cannot. You can never take a deduction for the value of your own labor. Your out-of-pocket expense ARE deductible, however.
2007-09-19 13:09:15 · answer #5 · answered by Bostonian In MO 7 · 1⤊ 0⤋
No, services are both intangible and therefore are subjective. Your mileage and tangible costs can be claimed, depending on what they consist of, and you have proof.
2007-09-19 12:08:20 · answer #6 · answered by Anonymous · 1⤊ 0⤋
conservatives will do something to cheat on their taxes and that they hate the destructive so why might they donate except its money to deliver bars of cleansing soap to african infants merely so as that they might say that they are coaching black infants to bathe (and of course mock them)
2016-10-19 03:35:44 · answer #7 · answered by ? 4 · 0⤊ 0⤋
No. Time has no value.
2007-09-19 12:46:23 · answer #8 · answered by Wayne Z 7 · 0⤊ 0⤋