Keep these tax tips in mind if you volunteer for charity:
- If you itemize on Schedule A, you can deduct $0.14 cents per mile for charitable driving, plus what you pay for parking and tolls.
- Keep track of the mileage, dates driven and purpose of the trip.
- You can also write-off for other expenses you incur while doing good deeds, such as the cost of stamps for a fundraising mailing or items bought for a bake sale.
Call us if you have any questions!