>From mom: > http://www.irs.gov/publications/p526/ar02.html#en_US_publink1000229649 > > It would appear the IRS regs do allow a deduction for a non-cash donation of "intellectual property' and I believe a website could fall under that definition -- at a 30% rate on FMV (fair market valuation) by a qualified appraiser. See Form #8283 and instructions -- the charity would have to provide statement of receipt. There are different rules for under $500; over $5000, and for types of property. Therefore, close attention to Pub. 526 and 1040 instructions is advised. > > Time & services as a volunteer are not deductible; however, itemized out-of-pocket expenses would be allowed if the taxpayer is itemizing deductions. > > Let me know if you need further info on this.
On Fri, May 7, 2010 at 3:52 PM, Eric Roberts < ow...@threeravensconsulting.com> wrote: > > I think you would have to bill them for the actual amount, but annotate it > as a donation...they would then write a receipt that you could then use as > a > write off. > > -----Original Message----- > From: Ray Champagne [mailto:r...@raychampagne.com] > Sent: Friday, May 07, 2010 9:17 AM > To: cf-community > Subject: can i write off donated labor? > > > First off, the first person who links to google gets shot - I know I can > google it, I just want some real-life people's answers/experiences. :) > Plus, it's Friday and I'm just looking for a distraction before we knock > off early to go see Iron Man 2 this afternoon... > > So my sister has started a non-profit organization (501-3 c) recently and > has asked me to put together a web site for her. > > Can I write off the time I spend (donate) to the organization? > > I assume no, but am always looking out for more tax writeoffs (BTW, if you > donate goods, you all should check out itsdeductible.com - it rocks!) > > I'll ask an accountant, of course, if it at all seems legal... > > -- > Ray Champagne > http://blog.raychampagne.com > http://twitter.com/raychampagne > > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:317708 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
