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Hi responders,

You people on this board are worth your weight in gold. I have asked four questions here and will use your information to save a great deal of money on taxes by following up on your tips. I am adding this board to the list of my favorites. By reading other's queries, I am learning the things I never thought to ask.

Thank you VERY, VERY much for being here and sharing your knowledge!!!

Anne
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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.)

Jacketfan
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No. of Recommendations: 1
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.)

Jacketfan


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.

--malakito.
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No. of Recommendations: 4
Actually I'm going to turn this around. You people who pose your questions help us pros keep up to date on the kinds of questions our regular clients will ask us.

Speaking personally, you people have no idea if I've researched a question before answering your quiries or not. But by being forced to keep current with what's out there, I've dazzled more than one of my clients with my current up to date knowledge.

So thank you!
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