CLRtoQuilt Posted December 15, 2005 Report Share Posted December 15, 2005 Those of you that donate your time and material for the quilts do you also fill out a price form and use it as a tax write off? Having a degree in accounting and with all my other jobs we used every little thing for tax write off and donations were top on the list to keep track of. Char Link to comment Share on other sites More sharing options...
Guest Linda S Posted December 15, 2005 Report Share Posted December 15, 2005 You'd have to check the tax laws. I believe you can deduct your donated materials, but not your labor. Linda Link to comment Share on other sites More sharing options...
Quiltdoodlesmith Posted December 15, 2005 Report Share Posted December 15, 2005 Linda, That is correct. Char, If you go to the IRS wedsite and download a copy of Pub 17, you can find all of the details. Link to comment Share on other sites More sharing options...
Susanri Posted December 15, 2005 Report Share Posted December 15, 2005 You know I don't understand why labor that ends in a product and has a distinct value why its not allowed as a write off. Link to comment Share on other sites More sharing options...
Giftedhands Posted December 15, 2005 Report Share Posted December 15, 2005 Since our businesses are based on Labor, and we have to report THAT as income, you'd think that our labor fee would count as the "donation". Cynthia Link to comment Share on other sites More sharing options...
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