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Tax Break?

R

roftranspo

[H]ard|DCer of the Month - July 2006
Joined
Sep 1, 2005
Messages
3,440
Hey, does anyone know if we can get a tax break by folding? since it IS charity and all.
 
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.
 
masher said:
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.
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yeah...the electricity cost is what i was wonding about.
 
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.
 
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