Do you know about these surprise tax deductions for volunteering?
We know our volunteers give much of themselves, their time, their enthusiasm and many times direct out of pocket expenses. If you volunteer for a 501C organization such as the Donner Party Mountain Runners and have expenses such as travel (mileage, gas, hotels, meals, airfare, etc.) or administrative (postage, office supplies, supplies for events such as races or organization events, etc.) you can deduct these expenses from your taxes. You cannot however deduct your time or living expenses for any of your volunteering. Also expenses accrued while crewing and pacing a friend or family member are not tax deductible…..your runner’s everlasting gratitude is your reward.
There are very specific guidelines for taking these volunteer deductions such as record keeping, the guidelines for specific amounts of expenses and verification of your volunteering duties from the 501C organization. Here is a really great and detailed explanation of volunteer tax deductions from the Pacific Crest Trail Association
Also here is the link to IRS Publication 526 Charitable Deductions.
I hope this information is helpful and I really hope we see much of you volunteering at our…..
Castle Peak 100K
Here is to volunteering in 2017….our volunteers are UNAFRAID!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!