Tuesday, June 12, 2012

Tax info for volunteer emergency workers

MD now allows a subtraction for US Coast Guard Auxiliary and Maryland Defense Force as well as volunteer fire, rescue and emergency personnel. Many states offer a tax credit of this nature so be sure to mention to your CPA that you are a volunteer.

Volunteer workers can also deduct as charitable contributions the non reimbursed equipment purchases, mileage, and certain other expenses incurred for performing their volunteer work but must reduce this amount by any nontaxable compensation received.

Here is some federal tax info for firefighters:

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