Retired and doing volunteer work. Can I deduct CPE costs?

USA Discussion in 'Individuals' started by Alfred Chavez Jr., Apr 14, 2017.

  1. Alfred Chavez Jr.

    Alfred Chavez Jr.

    Joined:
    Apr 14, 2017
    Messages:
    5
    Likes Received:
    0
    I am retired but do accounting work for three non-profit organizations, pro bono. Can I deduct the costs of maintaining my license? Above or below the line?
     
    Alfred Chavez Jr., Apr 14, 2017
    #1
    1. Advertisements

  2. Alfred Chavez Jr.

    kirby VIP Member

    Joined:
    May 12, 2011
    Messages:
    1,242
    Likes Received:
    155
    No. If you provide a service to a charity, there is no deduction for the estimated value of your services nor your license expense in providing those services. (You are not "donating" your license to the organization). Also, you are not being compensated in wages so there is no business deduction.
     
    kirby, Apr 19, 2017
    #2
    Alfred Chavez Jr. likes this.
    1. Advertisements

  3. Alfred Chavez Jr.

    Alfred Chavez Jr.

    Joined:
    Apr 14, 2017
    Messages:
    5
    Likes Received:
    0
    Good answer. Thank you.
     
    Alfred Chavez Jr., Apr 21, 2017
    #3
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.