Thread: Tax Info
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Old 04-08-2010, 09:40 AM   #12
cdawnfine
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Join Date: Jan 2008
Location: nj
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Originally Posted by dwerten View Post
i wonder if you can do it as a donation to the 501c is how she is doing it as that is definitely a write off so is the 501 giving you a donation form to write of expenses since you are fostering for them? I have done this before as demi was a write off as i rescued her and that is considered a donation I believe at least that is what my accountant told me so maybe that is how she is treating it under gifts and donations.
I was thinking the same thing to. I believe you have to figure out all of your out of pocket expense. Food, Gas, those sort of things and you can deduct that as a donation. While it may be too late for last year I would keep a folder with recepts for this year. I do not think you can deduct the boarding however as it is your residents and the only way to do it would be to break down your square footage and figure out how much room they use as well as all other utitlities and I really do not think it would be worth your while. Remember anything you put down you have to back up just in case you ever get audited.
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