About Buyadate.org

Buyadate.org is an online database of members looking to browse, buy and/or sell time. Buyadate.org is more than just a 'social network', it is intended to be a 'social utility'. The goal is to be an empowerment website for entrepreneurs and humanitarians- and to help channel funding into the nonprofit sector.

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Tax Tips

When you share of portion of your income with your favorite nonprofit organizations through Buyadate, you receive the benefit of knowing you're helping to make a difference. But you're also receiving the benefit of a deduction to apply to your taxes.

Here are some answers to common questions about charity and tax deductions. Buyadate.org provides this information for your convenience. As always, consult your own tax or financial advisor before making personal financial decisions.

1. When I share income with a nonprofit organization through Buyadate.org, is that contribution tax-deductible?

Every nonprofit and charity featured on Buyadate.org qualifies for 501(c)(3) non-profit status from the IRS ó and that means every contribution to a nonprofit organization counts as a tax-deductible contribution. When you make a contribution through our site, be sure to save and/or print the confirmation email you receive from Buyadate.org for your tax records. Buyadate.org can help you keep track of your contributions throughout the year with a summary history of all contributions you've made to nonprofit organizations you have donated to, how much you've donated, and when.

2. I want my giving to be deductible for this tax year. Do I need to make a contribution by a certain time?

Yes. Any contribution you made on or by December 31, 2008 will qualify as a deduction for 2008. Any contributions made in 2009 (even at 12:01 a.m. on New Year's Day) go towards the 2009 tax year.

3. Do I need to itemize my tax return to get a deduction for charitable giving?

Yes, contributions are only tax-deductible if you itemize deductions on your tax return. When you file your taxes, you'll need to itemize your contributions on the Schedule A of the 1040 form.

4. How much can I legally deduct on my taxes for charitable contributions?

Generally speaking, you may deduct up to 50% of your aggregate gross income ó half of your total income, subject to certain income phase-outs.

5. When I donate, will I get a receipt?

When you contribute to a nonprofit organization through Buyadate.org, you will always receive a confirmation email, which will serve as your receipt. You should always keep a hard copy of your receipt for your tax records.

6. Can I deduct expenses I incur from volunteering?

Although individual taxpayers may not deduct the value of their volunteering services, some expenses incurred while volunteering, for example, car mileage and travel expenses are deductible if they are not reimbursed by the charity. However, travel expenses are deductible only if there is no significant element of personal pleasure, recreation, or vacation associated with the travel and then limited to necessary lodging and meals while away from home overnight in rendering these services. For example, if you volunteered to help with a charity effort, but visited friends along the way or spent time with your own family, you could not deduct these travel expenses.

7. Help from the IRS:

The charitable donation guide explains: