January 20, 2021
Yet another tax benefit of helping others. You can deduct miles traveled! ⠀
If you itemize your deductions, you can deduct your volunteer miles as well as your contributions to qualified charitable organizations!!⠀
This includes driving to drop off a donation, or driving to volunteer at a homeless shelter, for example. ⠀
Track your miles for your volunteer work and let your accountant know. The standard rate for volunteer miles is $.14 per mile for tax year 2020.⠀
Air travel may also count if the trip had no significant element of personal pleasure, recreation, or vacation in the travel.
Disclaimer: For informational purposes only. Not Tax or Legal advice.