IRS for Board Members

Started by JohnM3 • 2 replies • 1572 views

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JohnM3 (Florida)
Posts: 288

Posted:

Can people deduct from their yearly tax return timme spent on association business. IE stupid meetings with City Building Dept people monthly meetings, treas time spent checking monthly reports, talking with different banks etc etc etc?

Cause I spend at least 2-4 hours everyother day Treas, Chairman ARC Comm.

BrianB (California)
Posts: 2,820

Posted:

i do not believe the IRS allows any deductions for time, in any manner. in some circumstances, you might deduct mileage, but never time.

RogerB (Colorado)
Posts: 5,067

Posted:

No deductions from taxes as a non-profit HOA does not qualify. You can ask the HOA to reimburse out of pocket expenses, including mileage.

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