Posted by Johnnymac 6:31 PM
I just received an inquiry from a guy who needs some dealers for a small charity tournament this Friday night. I am assuming that there is no cash in the game and that it's legal and whatnot, so all they are offering to pay the dealers is a plate of barbecue and beer for the evening. I know it doesn't sound like much but charity is always a good thing and I can think of worse ways to "give back," so to speak. In fact, I would do it if I were in town and not going fishing this weekend, but I can't so I am putting out an inquiry to the IAG family.

So if you are interested shoot me an email (the address is on the right) and I will put you in touch with the organizers.

3 Comment(s):

Posted by  Dr Fro, at 11:28 AM, June 08, 2005  

With rare exceptions (none of which should apply here), no, you can't deduct the value of your time.

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Posted by  Dr Fro, at 11:41 AM, June 08, 2005  

If you think about it, it is contructively the same as earning $x for dealing and then immediately making a cash donation of $x to the charity. (same end result).

Under this, you would be taxed on the earnings and get a deduct for the donation, with no net effect on your taxable income.

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Posted by  Junelli, at 2:01 PM, June 08, 2005  

Speak English, Bean Counter!

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