[thelist] Charity and taxes was: Re: list confrontations, was: [thelist] Org Chart?

[Martin]

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matthew garrett wrote on 2/5/01 3:21 pm

>I asked my accountant a month ago (for obvious reasons). He advised me that
>only the *expenses* incurred in the production of donated services are tax
>deductable. There appears to be no gain since those expenses are tax
>deductable anyway (because they are business expenses). He says that you
>can't/shouldn't do the "i would have charged a 'real' client $10,000, so
>i'll deduct that $10,000 as a contribution instead."

In which case, you're maybe better billing the $10k and donating it back.

Cheers
Martin

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