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Thread Status: Active Total posts in this thread: 4
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Former Member
Cruncher Joined: May 22, 2018 Post Count: 0 Status: Offline |
OK, be nice to me, this is my first message, and I hope the question I am about to post is not meant to offend.
My question - Is the computer time (and/or the computers themselves) something I can deduct on my taxes? I live in the US if you must know. I ask you to bear with me while I explain: If I were to purchase at my own cost, 10 computers (and assorted accessories like switches and other equipment) and set them up in the basement of my house and use them exclusively for the purpose of donating computer time to the grid, could I consider this as a donatable tax deductable expense for the cost of the computers, electricity used, internet costs, personal time for maintenance on the equipment, etc? What does anyone suppose the value of this donation would be worth, and how would I go about proving it? Has anyone done this? I beleive I could use the "Work Done" amount as the computer time - does this sound reasonable? Would it be a true measure of the time I have "donated" the project? Dont mean to offend and if I have, I am sorry. I believe in this project very strongly - to the point that I am considering doing what I have described above. I just wonder if it would be something I could get a donantion for to help offset the startup and ongoing costs. Thank you for your consideration |
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Khyron the Destroyer
Cruncher Joined: Mar 30, 2007 Post Count: 12 Status: Offline |
See the threads at:
----------------------------------------http://www.worldcommunitygrid.org/forums/wcg/viewthread?thread=11654#86130 and http://www.worldcommunitygrid.org/forums/wcg/viewthread?thread=11343#84712 There was some discussion, but nothing concrete. IANACPA so I'd contact someone "in the know" or call one of the tax help-lines. [Edit 1 times, last edit by Khyron the Destroyer at Apr 2, 2007 3:59:25 AM] |
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Former Member
Cruncher Joined: May 22, 2018 Post Count: 0 Status: Offline |
Tax deductability was discussed back when WCG was first set up. The general consensus was that it could not be deducted. The other opinion was that a tax lawyer might dare to do this, but no one should try it without legal advice from such a lawyer.
You can use SEARCH to find the old threads, but I do not think that they will be helpful. Lawrence |
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Former Member
Cruncher Joined: May 22, 2018 Post Count: 0 Status: Offline |
What they said.
And an addendum: the shakiest part of your reasoning is taking your personal time contribution as the total runtime. The Revenue will laugh in your face.... you can't claim 240 hours a day! Another difficulty you may encounter is that WCG isn't a charity. It's a non-profit, but they aren't set up for accepting donations. Anyway, good luck. I'm sure many of us would like you to set a precedent. |
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