based on the market value? this site work is a main information source for a fundraising event which helped the school raised 50k.Does creating / giving a website to a non profit (school) qualify for a tax deduction ?
The answer is no.. You are trying to qualify for a tax deduction twice.
If you designed a website for a non-profit school, but charged them a fee of $10,000 (let's suppose), you would pay income tax on that $10,000. Now that you are giving the non-profit school this $10,000 gift (for your web design work), you are no longer paying the income tax that you would have otherwise paid.. So now you are asking if you can write off another $10,000 to some other income you have.. No way man
You could write off any web hosting fees, etc that you paid for and ';gifted'; to the schoolDoes creating / giving a website to a non profit (school) qualify for a tax deduction ?
I wouldn't listen to these others. I believe there is good merit because you basically donated the value of the web site. Musicians do charity concerts and write them off on their taxes. Check with a real tax professional.
Did you pay, with your own money, for the web site? If you did and have a receipt for the amounts spent, it will qualify for a charitable deduction on your Schedule A (itemized deductions). However, if all you did was donate your time to create the site, it is not a deduction for you. The donation of your time is never deductible as a charitable contribution. Only mileage and purchases made which are donated with no receivable benefit to you are deductible as charitable contributions.
Happy New Year! :)~
No matter what Michael C thinks should be deductible, he is incorrect, and the other responders are correct. The donation of time is never deductible, although any out-of-pocket expenses would be if you itemize. See IRS Publication 17, or instructions for 1040 Schedule A. But know that your volunteer work did a very good thing for this school.
Nope. The ';value of your time'; is never deductible.
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