Vegas Free-for-All - What to do with old IPOD

What to do with old IPOD

snidely333

Feb 20, 2011
10:57am

Quote

Originally posted by: chefantwon
Snidely, if your going to grovel, you need to learn how to do it better. If you were in person then you could use other methods, however since your talking, other ways are required. You have to do the boot licking technique without being there to actually lick the boot/feet of the person who's ass your kissing.

Remember don't wimper, its unsightly to those of us who have a degree in groveling.

Medicluvs, you'll need to erase any personal data before you get rid of your IPOD.

I thought I was doing quite well.

And sending it to me will keep you out of trouble from the IRS if you listen to the advice on here.

Doufous

Feb 20, 2011
11:10am

Block User

Quote

Originally posted by: MoneyLA
I think you can deduct repair costs as part of a charitable donation, just as you can also deduct your miles driven to the charity and the value of your time. I am not an accountant, but I have heard of this from various tax experts. Perhaps one of our tax experts can comment?? Thanks.

The value of your time is NOT a tax deduction. Miles driven while volunteering (not commuting) for a charity can be deducted at a very low rate per mile. Donating goods can be deducte only at the resale value. If repair costs increase the value of the item then the increased value is deductable, NOT the cost of repairs. The IRS may require reciepts from the charity to prove the deduction in case of audit. High value items should be apprased before being donated.

Please remember that not all accountants understand tax law or how to properly prepare a tax return.

chefantwon

Feb 20, 2011
11:14am

Block User

Quote

Originally posted by: Doufous

Quote
Originally posted by: MoneyLA
I think you can deduct repair costs as part of a charitable donation, just as you can also deduct your miles driven to the charity and the value of your time. I am not an accountant, but I have heard of this from various tax experts. Perhaps one of our tax experts can comment?? Thanks.

Just ask the IRS, they can't even file theirs correctly.

snidely333

Feb 20, 2011
11:19am

Block User

Quote

Originally posted by: Doufous

Quote
Originally posted by: MoneyLA
I think you can deduct repair costs as part of a charitable donation, just as you can also deduct your miles driven to the charity and the value of your time. I am not an accountant, but I have heard of this from various tax experts. Perhaps one of our tax experts can comment?? Thanks.

Don't let common sense get in the way of the advice on here.

MoneyLA

Feb 20, 2011
12:01pm

Block User

I was surprised to hear about the value of "donated time" as well when I heard it. But it was on CBS Radio and I thought CBS Radio would be an accurate source of information.

Indeed, I just went to irs.gov and checked pub 526 and it says you cannot deduct value of time and services. Now I wonder what CBS was talking about??

fedomalley

Feb 20, 2011
1:45pm

Block User

Road Trip, I would suggest we ask Rob Singer. I assume everyone is in agreement?

Go ahead and send it to Snidely....he asked first....it's kind of like an airline if you'd like to give up your seat for a free flight.....if I'm the first in line, damn right I'm gonna get the bump.

Dan