Video Tips: Ever Wonder What Tax Breaks Are Available for Volunteers?
Volunteering for a non-profit charity can offer some valuable tax breaks and advantages. While you cannot deduct the value of your time or services, you can claim deductions for certain out-of-pocket expenses related to your volunteer work, such as travel, supplies, and uniforms. Keeping accurate records and obtaining written acknowledgments for donations over $250 are essential to maximize these tax benefits.
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