On December 3, the Internal Revenue Service issued the 2011 optional standard mileage [...]]]>

Much more information on charity volunteer mileage rates and what a volunteer can deduct is now available at SeriousGivers.org at the “What can a charity volunteer deduct?” page. Go there for ongoing coverage (comments are closed on this page).

On December 3, the Internal Revenue Service issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Our post and comments on the 2010 rates.

Beginning on Jan. 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 51 cents per mile for business miles driven;
• 19 cents per mile driven for medical or moving purposes; and
• 14 cents per mile driven in service of charitable organizations.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. For more information, see our article on charitable deductions for volunteers and IRS Revenue Procedure 2010-51.

Find out more about your favorite charity by looking at its IRS Form 990 or 990-EZ.

Read the latest additions to this site.

Home.

On December 3, the Internal Revenue Service issued the 2010 optional standard mileage [...]]]>

Much more information on charity volunteer mileage rates and what a volunteer can deduct is now available at SeriousGivers.org at the “What can a charity volunteer deduct?” page. Go there for ongoing coverage (comments are closed on this page).

On December 3, the Internal Revenue Service issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Our post on the 2011 rates.

Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 50 cents per mile for business miles driven;
• 16.5 cents per mile driven for medical or moving purposes; and
• 14 cents per mile driven in service of charitable organizations.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates. For more information, see our article on charitable deductions for volunteers and IRS Revenue Procedure 2009-54.

Find out more about your favorite charity by looking at its IRS Form 990 or 990-EZ.

Read the latest additions to this site.

Home.

This year’s winners of The Purpose Prize, a $100,000 award for social innovators in their encore careers, are using a new stage of life to do extraordinary things to improve life for millions of people worldwide.

They [...]]]> Bravo! Congratulations to these terrific individuals, innovating for the good of society. From the Encore Careers release:

This year’s winners of The Purpose Prize, a $100,000 award for social innovators in their encore careers, are using a new stage of life to do extraordinary things to improve life for millions of people worldwide.

They include:

• A former telecom executive who helped wire an Appalachian county and brought laid-off factory workers back to profitable farming.
• A professor who invented a way to transform toxic fly ash into green bricks.
• A psychiatrist who helps saves soldiers’ lives by offering free mental health treatment.
• A former NASA exec who works to treat alcoholism in Native American communities by reviving old customs and traditions.
• A couple who honor their son, killed on 9/11, by helping to bring mental health services to countries ravaged by terrorism, violence and war.

These people – and five other $50,000 winners – are social entrepreneurs over 60 who are using their experience and passion to take on society’s biggest challenges. Now in its fourth year, the six-year, $17 million program is the nation’s only large-scale investment in social innovators in the second half of life.

Read the Encore Careers release.

Answer: First, you can’t deduct the value of your time or services. If you [...]]]>

Much more information on what a charity volunteer can deduct (including mileage rates) is now available at SeriousGivers.org at the “What can a charity volunteer deduct?” page. Go there for ongoing coverage (comments are closed on this page).

Answer: First, you can’t deduct the value of your time or services. If you volunteer for a Qualified Organization (QO), however, you can deduct on your income taxes:

• For the use of your car: actual costs of gas and oil to and from the QO location, or 14 cents per mile (it’s your choice) – plus tolls and parking, in either case.
• Other costs, if they are (i) unreimbursed, and (ii) directly connected with the services you gave, and (iii) incurred only because of the services you gave, and (iv) not personal, living or family expenses.

See IRS Publication 526. Be sure to keep good records.

Of course, you can only deduct these costs if you (a) file an income tax return and (b) itemize your deductions.