[pianotech] Donating tunings and tax deductions

[Tom Servinsky]

I agree with Israel's statement about maybe it's time to look for another accountant
On a side note, anyone catch the latest news clip about Bernie Maddof's accountant being arrested yesterday? I would have loved to been a fly on the wall when those 2 were conniving what they deemed legitimate or not.
Tom
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  ----- Original Message ----- 
  From: Israel Stein 
  To: pianotech at ptg.org 
  Sent: Wednesday, March 18, 2009 10:31 PM
  Subject: [pianotech] Donating tunings and tax deductions




  Wed, 18 Mar 2009 11:02:57 -0600 "John Dorr" <a440 at bresnan.net> wrote:

    David Love wrote: 
    I routinely donate my services to a few charity events (auction type) around 
    for fund raising purposes. I usually donate 2 or 3 to each event. It is 
    very good advertising and, if nothing else, gets you some new customers plus 
    helps out organizations in need. You cannot, however, get a tax deduction 
    for that. At least not a legal one. 

    David Love 
    www.davidlovepianos.com 



    I just called my accountant. She says that indeed I CAN make those deductions. It's called a donation "in kind", and you get a receipt from the organization (which I DO) and the organization must be recognized as a charitable organization. So I will be continuiing to take those deductions! Sometimes that kind of charity is about the only charity I can afford! 

    John Dorr 
    Helena, MT 

  John,

  I just looked in IRS publications 17 and 526 under "Contributions you cannot deduct". Both include the item "The value of your time and services" as non-deductible contributions. "Contributions in Kind" refers to tangible items, not time or services. If I were you, I would start looking for another accountant... 

  Israel Stein 
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