If charity work takes you on the road there are travel expenses you should be aware of that may help you out on your taxes. The IRS wants you to know about a variety of travel expenses resulting from traveling for charity work that may help lower your taxes if you itemize deductions when you file next year. These five tips may help you next time you hit the road.
- If you work for a qualified organization ask the charity about its tax-exempt status. If you are uncertain whether your charity is qualified you can visit IRS.gov and use the Select Check tool to find out.
- While serving as a volunteer you may be able to deduct unreimbursed travel expenses you pay. The value of your time or services however cannot be deducted.
- The deduction qualifies only if there is no significant emphasis on personal pleasure recreation or vacation in the travel.
- You can’t deduct expenses if you only have nominal duties or do not have any duties for significant parts of the trip. To deduct travel expenses work must remain real and substantial.
- Deductible travel expenses may include:
- Air rail and bus transportation
- Car expenses
- Lodging costs
- Meal Cost
- Taxi fares or other transportation costs between the airport and your hotel
Contact Lindemeyer CPA to learn more.