Re: Virtual Consultant Fee

At 20:08 10/12/1998 , Larry Bolhuis wrote:
>I was going to quote this Pub until I saw this response.  I believe this is 
>CRAP!  Why is my donated
>time worth less than your donated computer? Having said that I can sure see 
>where allowing donations
>of time to be deducted would be a gigantic opportunity for cheating.  At least 
>you would think they
>could allow those of us who bill our time for a living to donate time at the 
>same rate.
>
I don't think it's entirely illogical. If you charged a client $1,000, and then 
turned around and donated $1,000 to charity, you would have $1,000 income, 
offset by a $1,000 donation, which would reduce your net taxable income. In 
other words, you would not pay tax on the $1,000. If you donate $1,000 worth of 
time, what you are really saying is that you are foregoing the $1,000 that you 
could have made by billing for it. It's still a wash, but it has a higher 
aggravation coefficient.


Pete Hall
peteh@inwave.com 
http://www.inwave.com/~peteh/

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