Posted by: arbeam | December 22, 2013

Voluntary Organization Tax Issues

From the Bosun’s Locker: We appreciate all our Navy League members and their support!

But don’t forget there are areas of expenses in carrying out volunteer efforts that can be used to reduce your income each year if you routinely itemize deductions.  Here are just a few that might apply to your situation:

  • At the top of the list are automobile expenses to go to functions and other volunteer activities.  Although the IRS allows 14 cents a mile it may to your advantage, given the cost of gas, to keep track of actual expenses on the journeys.
  • Travel costs to functions and duties: hotels, tolls, ferry fees etc.
  • Outright donations to the organization and for special efforts throughout the year.  Fisher house and other veteran donations to the VFW, DAV, America Legion, Wounded Warriors etc.  These add up over a year’s time and are deductible.  You might forget these if you are donating via credit cards, review your statements at the end of the year.
  • Specialized uniforms and or regalia for special occasion not associated with normal wear.
  • Copying expenses and other incidentals on Navy League business or applicable to functions.
  • The extra amount that is really a donation for social-luncheon events charges.  You can’t deduct the meals value but anything over an above.

When in doubt take a look a IRS Publication 526 Charitable Contributions  and/or ask your tax professional at the start of each year during tax season or as reminder effort at year’s end.  – Carry On!

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