Through the years thousands of people have come to the aid of others in need. After 9/11 people traveled to New York and when Katrina hit they helped out in New Orleans. Now, there may be an even bigger incentive to give back while on a trip – you can get a tax write-off, reports Wallet Pop.
What is deductible? Your out-of-pocket expenses related to volunteering are. To qualify they must be not otherwise reimbursed expenses, directly related to the services you are helping with and not personal or family expenses.
A definite expense that is deductible is transportation. That includes gas and car maintenance, airlines, train, bus and parking fees and tolls, says the article. The cost of lodging and meals an also be included. Just be careful if you also add in some personal fun time. You can’t deduct those.
Since you are doing this to help others, make sure you don’t go overboard and stay at the most expensive hotel or eat at only five-star restaurants. Just consider how others would view your expenses, suggests Wallet Pop.
Consider even just volunteering locally if you can’t hop on a plane and travel somewhere else. You can still take a deduction for out-of-pocket expenses. And don’t forget you can still make a monetary donation to an organization and that’s also tax deductible.