Tax Break?

[roftranspo]

Hey, does anyone know if we can get a tax break by folding? since it IS charity and all.

 

[masher]

Unless you transfer physical ownership of your equipment to them, no. The folding itself would be considered a service, which you cannot deduct. You might be able to get away with deducting additional electricity costs, but thats about it.

 

[roftranspo]

Unless you transfer physical ownership of your equipment to them, no. The folding itself would be considered a service, which you cannot deduct. You might be able to get away with deducting additional electricity costs, but thats about it.

yeah...the electricity cost is what i was wonding about.

 

[ICE_9]

Deducting electricity on a service that you offer Stanford that they are not paying you to do probably won't work. I don't think you can deduct it unless they are a 501c3 charity or actually are paying you in some way for services rendered.