The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Worth Your Weight... Date:  10/18/2001  6:57 PM
Author:  malakito Number:  54692 of 124834

I just looked at this board today, and in about one hour of perusing, I came to the same conclusion. You regular contributer/answerers should be able to deduct the fair market value of your time as a charitable contribution (i.e. it's probably THAT valuable to folks.)


Perhaps morally true, but the IRS doesn't allow deductions of the kind you propose on two grounds: (1) You can't deduct the FMV of your time, (2) TMF is not a 501(c)(3) organization. However, mileage to and from charitable activities is deductible.

Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us