onelove901
Jun 13, 2012, 10:42 AM
How do I deduct the free tutoring to students on my taxes
ebaines
Jun 13, 2012, 11:21 AM
how do i deduct the free tutoring to students on my taxes
I take it that you are providing tutoring on behalf of a charitable organization, correct? Sorry, but you can't deduct the value of services you provide to a charity. You can only deduct donations of money and property (such as stocks, bonds, art work, real estate, etc), and certain out-of-pocket expenses you may have occurred in support of the charitable organization (travel expenses for example). So for for example if you drive to a student's house to do tutoring then you may deduct the mileage as an expense in support of the charity.
For more details see: http://www.irs.gov/pub/irs-pdf/p526.pdf