Tax Deductions Available for Bigs
|According to the IRS, Big Brothers and Big Sisters that are active with the program are entitled to the following tax deductions:
- Bigs may deduct $.14 per mile incurred while picking up and transporting their Little around.
- Bigs may also deduct the cost of meals, movie tickets, museum admissions, etc. spent on their Little.
- Bigs cannot, however, deduct the costs associated with their own meals, tickets, etc.
Bigs must maintain adequate records to support their deduction and are encouraged to contact their tax advisor should they have questions.
While BBBSBA encourages quality time rather than money spent on Littles, we trust that the above information will prove useful.
Questions? Suggestions? Contact us at email@example.com.
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Serving Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano & Sonoma Counties
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