Thanks: 0
Likes: 0
Thread: Business tips needed
-
02-11-2013, 08:06 AM #1
Business tips needed
A friend told me about shipping finished products to non-profit entities and then being able to write off costs, including mileage. She said this was an article in Womans Day magazine. Anyone know about this or the article?
-
02-11-2013, 08:39 AM #2
I do not know about the article, but I do know that if you buy supplies to make things for charity, you can deduct the cost of the supplies including the tax you paid. You can also deduct the shipping costs as well as mileage to and from the store/post office as long as it is related to doing work for charity. Your best bet would be to go to the IRS site if you live in the United States and search the word charity deductions. It is highly advised that you keep a detailed record. Also, if you do not have enough to file a schedule A, then you will not really gain anything from the deductions.