In his Estate Planning and Philanthropy column, Conrad Teitell writes that clients who volunteer for charities contribute the most precious asset of all, their time. They aren't motivated by tax breaks. But individuals who itemize their deductions are entitled to deduct unreimbursed expenses incurred in helping charities.
February 22, 2016 at 12:00 AM
1 minute read
Clients who volunteer for charities contribute the most precious asset of all, their time. They aren’t motivated by tax breaks. Many probably don’t even know they’re entitled to deduct unreimbursed expenses incurred in helping charities.
Here are the rules for individuals who itemize their deductions (no deductions for standard-deduction taxpayers):
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