Tax Deductions for Non-Profit Volunteers

blackgirlgrown is proud to feature Shannon King Nash, author of the award-winning book entitled, “For the Love of Money: The 411 to Taking Control of Your Taxes and Building Your Net Worth.”

In this spirit of holidays, many nonprofits will see a rise in the number of volunteers helping to fulfill their missions.  Nonprofits in Los Angeles are no exception. 

For example, take Foot on Foot, a 501c3 dedicated to providing the poor and homeless of Los Angeles with nutritious meals, clothing, and assistance in the transition to employment and life off the streets.  Its website lists that it is completely full with volunteers who will serve meals during the Thanksgiving weekend.  

The community appreciates their generosity and Uncle Sam appreciates it too.

The IRS recognizes this dedication with a tax break for out-of-pocket volunteer expenses.

Volunteered in 2009? Learn how to take advantage of the tax savings.

Shannon King Nash is an Attorney, CPA, Author and Entrepreneur. She is the author of the award-winning book entitled, “For the Love of Money: The 411 to Taking Control of Your Taxes and Building Your Net Worth.” She uses song lyrics and entertaining stories ripped from the headlines to teach readers how to manage their finances and taxes. She’s been featured as a tax, finance and legal expert in Global Finance Magazine, Jet Magazine, Essence Magazine, Ebony Magazine, ABC News Online, Upscale Magazine, The Chronicle of Philanthropy, Bankrate.com, L.A.Parent Magazine and The Washington Times. Currently she can be seen on the cover of the April 2009 issue of Black Enterprise Magazine. In addition, she served as the finance expert on recent episodes of BET’s “The Center” and Style Network’s “Modern Girls Guide.” Shannon is a graduate of the University of Virginia School of Law.  Follow Shannon’s articles of Ehow and the LA Nonprofit Examiner.
 

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