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Do you do

By zlitocook ·
Charity work for non for profit companies? And if you do how do you show it on your tax forms? I get tax sheets from most and keep records of what I do. But I have been told that next year charity write off's will be limited and I will need allot more information from the companies I do this for. I started doing this as a side line when I was a contractor, I might work three months and have two months off.
So I asked my church and others if they needed computer help, and I got allot of work.

Now it looks like the government has found a way to stop or make you pay for free work.
And we are still spending trillions on the war on terrorism.

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It is really very easy

by Tig2 In reply to Do you do

You will need the tax exemption number for the 501(c)(3) that you are providing assistance to. They can provide you with the corect form that acknowledges your tax deductible gift "in-kind". Your stated Value of Services cannot exceed the norms for that work classification in your state.

I do this LOTS for both the 3 Day and for my church. The rules are simple... once they have been translated from legalese.

The restrictions for charitable write off will require you to provide a 501(c)(3) TIN for each charity. Any "charitable" concern will gladly provide you with this information. I believe that the restriction will also require you to provide a statement with an officer's signature. Again- you should be able to get this without any trouble.

The new restrictions are going to be around blank receipts and questionable charities.

Simply make your claims as you normally do. I attach copies of receipts, letters and anything else pertinent and send with my forms.

Hope this helps!

Edited because I wanted to!

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by zlitocook In reply to It is really very easy

I was doing that but worried that the time I put in was going to hurt ether the people I do work for or me.

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Yes I do

by maxwell edison In reply to Do you do

And I don't write anything off. I just absorb it.

I know you didn't ask, but I'm in favor of abolishing the entire tax code and starting over with either a simple flat tax or a national sales tax. Are you?

By the way, we don't spent "trillions" on the war on terrorism, but we do spend "trillions" on social programs.

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by zlitocook In reply to Yes I do

A flat tax would be great but I thought that NBC or one of the other stations said that this war was at that amount. But I watch too much news :)

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So far, up to this moment. . . . . .

by maxwell edison In reply to Yes

...the United States has spent $292 billion dollars on the war in Iraq.

So far, since about 1968, the United States has spent about $12 trillion on various social programs.

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