Writing Off Charitable Travel Expenses

Do your plans this year include donating your valuable skills or services to charity? If traveling is part of the plan too, some travel expenses may be deductible for your business. While this can help lower your tax burden when filing next year’s return, you should use caution when listing those deductions. Here are three things you can write off when traveling for charity: 1. Although you can’t deduct the value of your services that you donate to charity, you may be able to deduct some out-of-pocket costs associated with your services. This can include the cost of travel, meals, and lodging, but all out-of pocket costs must meet the following criteria: The expense must be … [Read more...]