During February and March, Jade spends approximately 90 hours of her time volunteering at the Salvation Army (a public charity) preparing tax returns for low- income families. As a CPA, Jade normally bills her clients at $130 per hour for her time. Jade also drives her car a total of 800 miles in performing her voluntary work. Jade's deductible contribution is

Question

Quizplus · Accepted Answer

Jade can deduct the mileage driven for charitable purposes at the standard mileage rate for charitable activities, which is 14 cents per mile. Therefore, her deductible contribution is 800 miles x $0.14 = $112. The value of her time is not deductible.

During February and March, Jade Spends Approximately 90 Hours of Her