Discussion:Tax deduction for attending board meetings
From TaxAlmanac, A Free Online Resource
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Tax Questions --> Tax deduction for attending board meetings
| 2 February 2007 | |
| Hi. Can a treasurer (in Virginia) of a non-profit (501c3) organization incorporated in Massachusetts deduct the costs (travel, airfare, etc.) to attend Board meetings? Is this tax deductible? Can you tell if it is it and under what conditions?
Thanks! | |
| 2 February 2007 | |
| Why wouldn't he get reimbursed for expenses? Assuming he doesn't then he may have employee business expenses (2% misc itemized deduction). | |
| 2 February 2007 | |
| Treasurers of the board of a non-profit board are often not paid and thus would not be an employee, so he wouldn't have employee business expenses. What would help is to document his expenses in a letter to the organization, and then the organization should acknowledge that these expenses are tax-deductible for volunteer work conducted on behalf of the organization. Don't know if such documentation is absolutely required, but it would substantiate the expenses. | |
| 2 February 2007 | |
| Sounds like a non-cash charitable contribution to me. If over $250 t/p would need written acknowledgment from nonprofit. -- Larry Hess, CPA, Albuquerque, NM - Talk to me | |
| 2 February 2007 | |
| Another way to get around this is to have the non-profit pay the travel expenses on a expense report, and then donate the money back. | |
Death&Taxes (talk|edits) said: | 2 February 2007 |
| No it's not non-cash; he spent the cash so I treat it as a cash deduction. Have a client who is on the Board of three or four organizations. He's been audited a number of times and never had problems either with where he reports it or the idea. I did notice most of the meetings were in warm places. | |
To join in on this discussion, you must first
log in.
