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Donation Work - What Can You Write Down On Taxes?


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#1 abales

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Posted 19 February 2017 - 11:55 AM

I am about done with relatives and friends - just kidding - but the ones that really want stuff done have their windows now.  Wife says no more (5 and done).  So I need others & maybe I will walk the streets soliciting....custom work in the neighborhood from neighbors.  

 

Feel free to write whatever you want. 

 

Here is what I was thinking - Make some windows for local area nursing homes:

 

Put down $1000(42" x 34" ?) on taxes each, and get back ~$250 to cover materials and I just work for free.  Just crank out a set of 5~6 windows a year and use that to make my charity donation amount go above the standard deduction for taxes. Can this work?

 

Anyway, almost all nursing home/hospital/extended care windows here are just like this image, a ~42"x 34" with the inner plastic bar pattern (4x2 = 8 squares).  Double windows, top fixed and the bottom rises up. 

 

af1426cf-bd56-450c-abd0-bd9b6e41afdc_100

 

 

 

PS I'd love to go downtown and try to get contracts for the new lofts under construction, older housing rehabs, or new store fronts or something. After I retire from IT work and find something more entertaining, house paid off, yada yada, then start up a biz and do some custom work.  I love starting businesses & sales - done a few and never regretted it, its like drug.  

 


#2 Tod Beall

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Posted 20 February 2017 - 09:24 AM

a. Ask your accountant.

b. Ask those contractors for a chance to bid on work for their projects. Have a portfolio of some sort ready.

c. Have fun!



#3 annabelle

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Posted 20 February 2017 - 04:20 PM

What Tod said....



#4 abales

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Posted 21 February 2017 - 08:07 AM

Thanks!  I was talking with my sister, an accountant, but I was thinking she was being too easy saying "pretty much you can just do it and put down $5000~10000 for a few windows".  IDK.  She was "IRS can't really tell what the value of the art your donating is".  As a guy that has/does/will run businesses the idea of just such vague deductions sounds like a good way to wind up in an IRS hell. Heck with that.  I'd pay an extra few hundred just never to be audited.  I don't mind taxes, its like death, your not getting out of it - no one does.  Don't make it worse than need be & don't do stupid stuff.  

 

I don't want full time glass work yet, that's a few years from now if I go part time on my day job.  I think part time glass work could work for rehab buildings that have rooms with crappy views (like overlooking another roof & HVAC units, or into the walls of the next building).  I got an attack dog personality on ahad meds so I can sell.



#5 Tod Beall

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Posted 21 February 2017 - 08:49 AM

Keep it real!



#6 WayneFL

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Posted 22 February 2017 - 05:47 AM

The IRS can tell the value of items by asking for price evaluations by experts.  It's called appraising and they run into it all the time with art works.






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