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Can someone explain to me why only the $800 is included in the charitable contribution and not the $350 billing rate per hour as well?
Can someone explain to me why only the $800 is included in the charitable contribution and not the $350 billing rate per hour as well? please help and thanks in advance!
Donna is an attorney who renders volunteer legal services to a Legal Aid Society, which provides legal advice to low-income individuals. The Legal Aid Society is a qualified charitable organization. During the current year she spends a total of 200 hours in this volunteer work. Her regular billing rate is $350 per hour. In addition, she spends a total of $800 in out-of-pocket costs in providing these services. She receives no compensation and is not reimbursed for her out-of-pocket costs. Requirement What is Donna's charitable contribution for the year because of these activities? Donna's charitable contribution for the year is $ 800. When services are rendered to a qualified charitable organization only the unreimbursed expenses incurred while performing the services are deductibleStep by Step Solution
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