tax savings for PT s

[gonelifting]

I`m not sure about this, maybe some tax guys can chime in. If a Physical Trainer "donated" his time to a few people a year, could he get a tax break for that amount he would have received if he were to get paid?

The only catch would be if the recipients had to claim it as income. In that case you would somehow do it for a non-profit organisation (their members actually) or somewhere that did`nt have to pay taxes on their income.

I`m not a PT, but I`m sue it would help those who are if it could work. anyone know taxes?

 

[gonelifting]

Let`s say a PT trains a bunch of teens at a youth league of some kind for school. or a summer recreation thing. He does`nt get paid for it but has all the qualifications training licenses. etc... Would he be able to claim X amount on his charity for that year?

That can really add up quick. Especially if you`re not that busy and could use the extra work/deductions.

 

[sinjinsmythe33]

he would have to claim the deduction on the schedule c (assuming he is self employed). you wouldnt necessarily have to identify it, unless you get audited. self emplolyed tp's get audited with greater frequency and intensity, so dont go crazy with it. not sure if it would qualify as a charitable contribution, so contact your local irs office for guidance.